Carret Asset Management LLC Sells 12 Shares of AutoZone, Inc. (NYSE:AZO)

Carret Asset Management LLC reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 3.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 343 shares of the company’s stock after selling 12 shares during the period. Carret Asset Management LLC’s holdings in AutoZone were worth $1,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hohimer Wealth Management LLC lifted its stake in shares of AutoZone by 1.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock worth $917,000 after acquiring an additional 4 shares during the last quarter. Summit Trail Advisors LLC raised its position in AutoZone by 3.8% during the 4th quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock valued at $283,000 after purchasing an additional 4 shares in the last quarter. Guardian Capital LP raised its position in AutoZone by 1.3% during the 4th quarter. Guardian Capital LP now owns 301 shares of the company’s stock valued at $778,000 after purchasing an additional 4 shares in the last quarter. TriaGen Wealth Management LLC raised its position in AutoZone by 3.9% during the 4th quarter. TriaGen Wealth Management LLC now owns 133 shares of the company’s stock valued at $344,000 after purchasing an additional 5 shares in the last quarter. Finally, Stiles Financial Services Inc raised its position in AutoZone by 2.7% during the 4th quarter. Stiles Financial Services Inc now owns 191 shares of the company’s stock valued at $494,000 after purchasing an additional 5 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

Shares of AZO stock opened at $2,844.88 on Thursday. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The stock’s fifty day moving average price is $2,889.82 and its 200 day moving average price is $2,868.62. The company has a market cap of $48.59 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping the consensus estimate of $35.67 by $1.02. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $34.12 EPS. As a group, equities research analysts anticipate that AutoZone, Inc. will post 151.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AZO. Wolfe Research decreased their target price on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. Mizuho decreased their target price on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Citigroup decreased their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Evercore ISI cut their price target on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Morgan Stanley cut their price target on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3,112.71.

Insider Buying and Selling at AutoZone

In other news, VP Jenna M. Bedsole purchased 36 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the purchase, the vice president now owns 36 shares in the company, valued at $99,255.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

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.