New York State Common Retirement Fund Cuts Stock Position in AutoZone, Inc. (NYSE:AZO)

New York State Common Retirement Fund cut its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 17.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,592 shares of the company's stock after selling 4,759 shares during the quarter. New York State Common Retirement Fund owned 0.13% of AutoZone worth $86,138,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the fourth quarter worth approximately $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter worth approximately $32,000. Harbour Investments Inc. boosted its stake in shares of AutoZone by 42.9% in the fourth 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. Cornerstone Planning Group LLC acquired a new stake in shares of AutoZone in the first quarter worth approximately $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter worth approximately $45,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Down 0.7%

Shares of AutoZone stock opened at $3,702.16 on Monday. AutoZone, Inc. has a 52 week low of $2,894.02 and a 52 week high of $3,916.81. The business's fifty day simple moving average is $3,704.16 and its 200-day simple moving average is $3,565.22. The firm has a market cap of $62.12 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.21 and a beta of 0.39.

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

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 27,500 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the sale, the chairman owned 8,546 shares in the company, valued at approximately $31,696,515.78. The trade was a 76.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the sale, the vice president owned 159 shares in the company, valued at $581,940. This represents a 96.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,662 shares of company stock worth $131,999,089 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AZO shares. Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Mizuho lifted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. DA Davidson lifted their price target on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Guggenheim boosted their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, Truist Financial set a $3,995.00 price objective on AutoZone in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $4,087.00.

AutoZone 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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