Park Avenue Securities LLC Has $788,000 Stake in AutoZone, Inc. (NYSE:AZO)

Park Avenue Securities LLC trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 2.0% during the first quarter, HoldingsChannel reports. The fund owned 250 shares of the company’s stock after selling 5 shares during the period. Park Avenue Securities LLC’s holdings in AutoZone were worth $788,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hohimer Wealth Management LLC raised its holdings in shares of AutoZone by 1.1% during the third 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 period. Summit Trail Advisors LLC grew its position in AutoZone by 3.8% in the fourth 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 grew its position in AutoZone by 1.3% in the fourth 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 grew its position in AutoZone by 3.9% in the fourth 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 grew its position in AutoZone by 2.7% in the fourth 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 currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AZO shares. Evercore ISI raised their target price on shares of AutoZone from $3,250.00 to $3,278.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Morgan Stanley decreased their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. Wolfe Research decreased their price objective on shares of 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. Wedbush decreased their price objective on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. Finally, DA Davidson lifted their price objective on shares of AutoZone from $2,770.00 to $3,025.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3,112.88.

AutoZone Stock Down 0.1 %

Shares of AutoZone stock opened at $2,933.00 on Thursday. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The company has a 50-day simple moving average of $2,895.27 and a two-hundred day simple moving average of $2,859.68. The stock has a market capitalization of $50.10 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data 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. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the previous year, the company earned $34.12 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone, Inc. will post 151.57 earnings per share for the current fiscal year.

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 cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the transaction, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.