Morse Asset Management Inc Decreases Stock Position in AutoZone, Inc. (NYSE:AZO)

Morse Asset Management Inc cut its position in AutoZone, Inc. (NYSE:AZO) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,623 shares of the company’s stock after selling 119 shares during the quarter. AutoZone comprises about 1.9% of Morse Asset Management Inc’s holdings, making the stock its 14th largest position. Morse Asset Management Inc’s holdings in AutoZone were worth $7,775,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AZO. Xponance Inc. lifted its stake in shares of AutoZone by 1.7% during the 2nd quarter. Xponance Inc. now owns 4,447 shares of the company’s stock valued at $13,181,000 after buying an additional 74 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of AutoZone by 7.3% during the second quarter. Evergreen Capital Management LLC now owns 118 shares of the company’s stock worth $350,000 after acquiring an additional 8 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of AutoZone by 67.0% in the second quarter. Public Sector Pension Investment Board now owns 643 shares of the company’s stock worth $1,906,000 after acquiring an additional 258 shares during the period. DRW Securities LLC purchased a new position in shares of AutoZone in the second quarter valued at $239,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of AutoZone by 0.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,751 shares of the company’s stock valued at $8,621,000 after purchasing an additional 7 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research note on Thursday. Evercore ISI lowered their target price on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a research note on Friday. Guggenheim boosted their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Oppenheimer reiterated a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3,129.44.

AutoZone Stock Performance

AZO stock opened at $3,020.66 on Monday. The company has a market capitalization of $51.60 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The company’s 50 day moving average price is $3,105.66 and its two-hundred day moving average price is $3,010.09.

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.