State of Alaska Department of Revenue Has $13.94 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

State of Alaska Department of Revenue trimmed its position in AutoZone, Inc. (NYSE:AZO) by 12.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,422 shares of the company’s stock after selling 625 shares during the period. State of Alaska Department of Revenue’s holdings in AutoZone were worth $13,935,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Azzad Asset Management Inc. ADV raised its position in shares of AutoZone by 0.7% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 744 shares of the company’s stock valued at $2,346,000 after acquiring an additional 5 shares during the period. Handelsinvest Investeringsforvaltning raised its holdings in AutoZone by 11.8% during the 1st quarter. Handelsinvest Investeringsforvaltning now owns 550 shares of the company’s stock worth $1,733,000 after buying an additional 58 shares during the period. Eagle Ridge Investment Management acquired a new stake in AutoZone during the 1st quarter worth approximately $221,000. Diversified Trust Co raised its holdings in AutoZone by 8.1% during the 1st quarter. Diversified Trust Co now owns 6,071 shares of the company’s stock worth $19,134,000 after buying an additional 453 shares during the period. Finally, Blue Zone Wealth Advisors LLC raised its holdings in AutoZone by 1.5% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 2,492 shares of the company’s stock worth $7,854,000 after buying an additional 37 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

AutoZone Price Performance

AZO stock opened at $2,844.88 on Thursday. The company has a fifty day moving average price of $2,889.82 and a two-hundred day moving average price of $2,868.62. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The stock has a market cap of $48.59 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the business posted $34.12 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts anticipate that AutoZone, Inc. will post 151.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on AZO. Barclays dropped their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Citigroup dropped their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Truist Financial decreased their price target on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Wedbush decreased their price target on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating for the company in a research note on Wednesday, May 22nd. Finally, UBS Group decreased their price target on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $3,112.71.

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.