Public Employees Retirement System of Ohio Has $25.51 Million Position in AutoZone, Inc. $AZO

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in AutoZone, Inc. by 2.1%, holding 6,871 shares valued at approximately $25.51 million at the end of the second quarter.
• AutoZone's stock experienced a year-over-year revenue increase of 0.6%, with a reported quarterly EPS of $48.71, which fell short of expectations.
• Several analysts have adjusted their price targets for AutoZone, with a consensus rating of "Buy" and an average target price of $4,519.46.

Public Employees Retirement System of Ohio cut its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,871 shares of the company's stock after selling 150 shares during the period. Public Employees Retirement System of Ohio's holdings in AutoZone were worth $25,507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AZO. AlphaCore Capital LLC acquired a new position in AutoZone in the 1st quarter valued at about $27,000. Saudi Central Bank bought a new stake in shares of AutoZone during the 1st quarter worth approximately $27,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of AutoZone by 66.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock worth $38,000 after acquiring an additional 4 shares during the period. Cornerstone Planning Group LLC bought a new stake in shares of AutoZone during the 1st quarter worth approximately $44,000. Finally, Clearstead Trust LLC bought a new position in AutoZone in the 1st quarter valued at approximately $46,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by company insiders.

AutoZone Stock Performance

AZO stock opened at $4,176.31 on Thursday. The company has a fifty day moving average price of $4,060.00 and a 200-day moving average price of $3,809.83. The company has a market capitalization of $70.08 billion, a P/E ratio of 28.83, a PEG ratio of 2.28 and a beta of 0.41. AutoZone, Inc. has a 52-week low of $2,980.10 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. AutoZone's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $51.58 EPS. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AZO shares. Wells Fargo & Company dropped their price objective on shares of AutoZone from $4,800.00 to $4,700.00 and set an "overweight" rating for the company in a research note on Wednesday. Guggenheim increased their price objective on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Truist Financial dropped their price objective on shares of AutoZone from $4,504.00 to $4,499.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, TD Cowen increased their price objective on shares of AutoZone from $4,300.00 to $4,900.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $4,519.46.

About AutoZone

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.