Susquehanna Portfolio Strategies LLC Reduces Position in AutoZone, Inc. (NYSE:AZO)

Susquehanna Portfolio Strategies LLC decreased its holdings in AutoZone, Inc. (NYSE:AZO) by 47.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,500 shares of the company’s stock after selling 6,725 shares during the quarter. AutoZone accounts for approximately 0.9% of Susquehanna Portfolio Strategies LLC’s holdings, making the stock its 24th biggest position. Susquehanna Portfolio Strategies LLC’s holdings in AutoZone were worth $22,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quent Capital LLC grew its stake in shares of AutoZone by 4.8% in the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock worth $277,000 after acquiring an additional 4 shares during the period. Mather Group LLC. grew its position in AutoZone by 1.8% in the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after purchasing an additional 4 shares during the period. Conning Inc. raised its stake in AutoZone by 4.3% during the 2nd quarter. Conning Inc. now owns 98 shares of the company’s stock valued at $290,000 after buying an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of AutoZone by 14.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock valued at $95,000 after buying an additional 4 shares during the period. Finally, Brighton Jones LLC boosted its stake in shares of AutoZone by 4.1% in the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock worth $299,000 after buying an additional 4 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AZO shares. Citigroup lowered their target price on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday. Guggenheim raised their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Evercore ISI dropped their price target 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, September 20th. Finally, Oppenheimer restated a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3,169.38.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

AutoZone Stock Up 0.2 %

Shares of AutoZone stock opened at $3,196.61 on Friday. The business has a 50-day moving average price of $3,116.79 and a 200-day moving average price of $3,011.32. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The firm has a market cap of $54.61 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $46.46 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 151.08 EPS for the current fiscal year.

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.