Envestnet Portfolio Solutions Inc. Sells 301 Shares of AutoZone, Inc. (NYSE:AZO)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 58.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216 shares of the company's stock after selling 301 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in AutoZone were worth $824,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of AutoZone during the 4th quarter valued at $29,000. Flagship Wealth Advisors LLC purchased a new position in AutoZone in the 4th quarter worth $32,000. Harbour Investments Inc. raised its stake in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after acquiring an additional 3 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new position in AutoZone in the 4th quarter worth $45,000. Finally, Itau Unibanco Holding S.A. raised its stake in AutoZone by 750.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company's stock worth $54,000 after acquiring an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group increased their price target on AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Oppenheimer raised AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price target on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and increased their price target for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $4,200.00 price target on AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Two 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. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $4,072.24.

AutoZone Price Performance

NYSE:AZO opened at $3,485.54 on Thursday. The firm has a 50-day moving average of $3,696.27 and a two-hundred day moving average of $3,529.06. The stock has a market cap of $58.49 billion, a P/E ratio of 23.59, a PEG ratio of 2.14 and a beta of 0.40. AutoZone, Inc. has a 1-year low of $2,801.49 and a 1-year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the business earned $36.69 EPS. The business's revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In related news, VP Domingo Hurtado sold 4,800 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the transaction, the vice president now owns 159 shares in the company, valued at $581,940. This trade represents a 96.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was 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 now directly owns 427 shares of the company's stock, valued at $1,591,877.35. This represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,662 shares of company stock worth $131,999,089. 2.10% of the stock is owned by company insiders.

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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