Atria Wealth Solutions Inc. Sells 135 Shares of AutoZone, Inc. (NYSE:AZO)

Key Points

• Atria Wealth Solutions Inc. reduced its investment in AutoZone, selling 135 shares and decreasing its holdings by 19.6%, leaving it with 553 shares valued at approximately $2.1 million.
• AutoZone's recent earnings report showed an EPS of $35.36, which fell short of expectations and was lower than the previous year's EPS of $36.69; however, revenue increased by 5.4% year over year.
• Analysts currently have a consensus rating of "Buy" for AutoZone, with target prices ranging from $3,995 to $4,850.

Atria Wealth Solutions Inc. lowered its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 19.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 553 shares of the company's stock after selling 135 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in AutoZone were worth $2,108,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after acquiring an additional 770,005 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of AutoZone by 5.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company's stock valued at $1,039,421,000 after acquiring an additional 17,518 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of AutoZone by 14.6% in the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock valued at $655,840,000 after acquiring an additional 26,036 shares during the last quarter. Northern Trust Corp lifted its stake in shares of AutoZone by 22.0% in the 4th quarter. Northern Trust Corp now owns 204,748 shares of the company's stock valued at $655,603,000 after acquiring an additional 36,916 shares during the last quarter. Finally, Marshfield Associates lifted its stake in shares of AutoZone by 0.4% in the 4th quarter. Marshfield Associates now owns 170,280 shares of the company's stock valued at $545,238,000 after acquiring an additional 694 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Trading Down 0.9%

Shares of NYSE:AZO traded down $36.20 during mid-day trading on Tuesday, reaching $4,000.59. The company had a trading volume of 95,646 shares, compared to its average volume of 112,056. The firm has a market cap of $67.13 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.41 and a beta of 0.38. The company's 50-day moving average price is $3,742.89 and its 200-day moving average price is $3,651.77. AutoZone, Inc. has a one year low of $2,898.57 and a one year high of $4,094.69.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $36.69 EPS. On average, research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman owned 8,546 shares of the company's stock, valued at $31,696,515.78. The trade was a 76.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,862 shares of company stock worth $126,058,789. 2.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AZO. Bank of America upgraded AutoZone from a "neutral" rating to a "buy" rating and increased their price target for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a research report on Friday, May 23rd. Evercore ISI set a $3,950.00 price objective on AutoZone in a research report on Monday, May 19th. Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Roth Capital set a $4,135.00 target price on AutoZone and gave the company a "buy" rating in a research note on Monday, June 2nd. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $4,087.00.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.