AutoZone, Inc. (NYSE:AZO) Stock Holdings Lessened by Trillium Asset Management LLC

Key Points

• Trillium Asset Management LLC reduced its holdings in AutoZone, Inc. by 3.1% during the first quarter, now owning 6,478 shares valued at approximately $24.7 million.
• Institutional investors, including Vanguard Group and JPMorgan Chase, have increased their positions in AutoZone, with institutional ownership now at 92.74% of the company's stock.
• AutoZone's recent earnings report showed a miss on EPS estimates with $35.36 reported against expectations of $37.07, but revenues grew 5.4% year-over-year.

Trillium Asset Management LLC lowered its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,478 shares of the company's stock after selling 209 shares during the period. Trillium Asset Management LLC's holdings in AutoZone were worth $24,697,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of AutoZone by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company's stock valued at $6,709,967,000 after buying an additional 13,643 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of AutoZone by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after buying an additional 65,368 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of AutoZone by 435,031.1% in the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AutoZone by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company's stock valued at $1,039,421,000 after buying an additional 17,518 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of AutoZone by 14.6% in the fourth quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock valued at $655,840,000 after buying an additional 26,036 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AZO. Roth Capital set a $4,135.00 price objective on shares of AutoZone and gave the stock a "buy" rating in a research report on Monday, June 2nd. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley reiterated an "overweight" rating and set a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a research report on Friday, May 23rd. Finally, Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $4,087.00.

AutoZone Price Performance

NYSE AZO opened at $4,039.57 on Tuesday. The firm has a market cap of $67.78 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 2.41 and a beta of 0.38. The stock's 50-day moving average is $3,742.89 and its two-hundred day moving average is $3,651.77. AutoZone, Inc. has a fifty-two week low of $2,898.57 and a fifty-two week high of $4,094.69.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The business's revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $36.69 EPS. On average, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Buying and Selling

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the completion of the transaction, the chief financial officer owned 427 shares of the company's stock, valued at $1,591,877.35. The trade was a 85.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,862 shares of company stock worth $126,058,789. Insiders own 2.10% of the company's stock.

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.

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