New York State Common Retirement Fund Lowers Stock Position in AutoZone, Inc. $AZO

New York State Common Retirement Fund reduced its position in AutoZone, Inc. (NYSE:AZO) by 7.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,946 shares of the company’s stock after selling 1,600 shares during the period. New York State Common Retirement Fund’s holdings in AutoZone were worth $85,573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aspect Partners LLC lifted its stake in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares in the last quarter. Global Trust Asset Management LLC increased its position in AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares in the last quarter. Bank of Jackson Hole Trust purchased a new position in AutoZone in the second quarter valued at approximately $33,000. NewSquare Capital LLC lifted its position in AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after buying an additional 3 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in AutoZone during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In related news, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the transaction, the director owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Guggenheim cut their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Raymond James Financial cut their price objective on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 10th. Evercore ISI reaffirmed an “outperform” rating and issued a $4,100.00 target price on shares of AutoZone in a research report on Wednesday, December 10th. Citigroup lowered their target price on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Finally, Rothschild & Co Redburn boosted their price target on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4,285.00.

AutoZone Stock Performance

NYSE:AZO opened at $3,702.82 on Friday. The stock has a market cap of $61.36 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The business’s 50-day simple moving average is $3,580.39 and its 200 day simple moving average is $3,848.81.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $32.52 EPS. AutoZone’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.