Entropy Technologies LP Reduces Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Entropy Technologies LP cut its AutoZone stake by 48.4% in the fourth quarter, leaving it with 1,290 shares valued at about $4.38 million.
• Wall Street sentiment remains constructive: analysts maintain a Moderate Buy consensus on AutoZone, with an average target price of $4,040.87.
• AutoZone recently beat earnings expectations, reporting $38.07 EPS versus $36.22 expected, while revenue rose 8.4% year over year to $4.84 billion.

Entropy Technologies LP trimmed its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 48.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,290 shares of the company's stock after selling 1,210 shares during the period. Entropy Technologies LP's holdings in AutoZone were worth $4,375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Crestwood Advisors Group LLC boosted its position in AutoZone by 1.7% in the third quarter. Crestwood Advisors Group LLC now owns 184 shares of the company's stock worth $791,000 after purchasing an additional 3 shares during the last quarter. Assetmark Inc. boosted its position in AutoZone by 1.4% in the third quarter. Assetmark Inc. now owns 212 shares of the company's stock worth $908,000 after purchasing an additional 3 shares during the last quarter. Bridgewater Advisors Inc. boosted its position in AutoZone by 1.3% in the third quarter. Bridgewater Advisors Inc. now owns 229 shares of the company's stock worth $982,000 after purchasing an additional 3 shares during the last quarter. Compass Capital Corp MA ADV boosted its position in AutoZone by 3.7% in the third quarter. Compass Capital Corp MA ADV now owns 85 shares of the company's stock worth $365,000 after purchasing an additional 3 shares during the last quarter. Finally, KCM Investment Advisors LLC boosted its position in AutoZone by 0.3% in the third quarter. KCM Investment Advisors LLC now owns 1,153 shares of the company's stock worth $4,947,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AZO. Guggenheim decreased their price objective on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. DA Davidson decreased their price objective on AutoZone from $4,300.00 to $3,750.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Barclays raised their price objective on AutoZone from $3,800.00 to $3,900.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. TD Cowen reaffirmed a "buy" rating and issued a $3,700.00 price objective on shares of AutoZone in a research note on Thursday, June 4th. Finally, Evercore reaffirmed an "outperform" rating on shares of AutoZone in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $4,040.87.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Hannasch bought 165 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their position. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Down 0.2%

NYSE AZO opened at $3,110.16 on Monday. The stock's 50-day moving average price is $3,367.14 and its 200-day moving average price is $3,512.02. The company has a market capitalization of $51.26 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 1.58 and a beta of 0.35. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $35.36 EPS. Research analysts anticipate that AutoZone, Inc. will post 150.45 EPS for the current year.

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.

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