Shellback Capital LP Lowers Holdings in AutoZone, Inc. (NYSE:AZO)

Shellback Capital LP lowered its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 60.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the company’s stock after selling 3,000 shares during the quarter. Shellback Capital LP’s holdings in AutoZone were worth $5,928,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Rise Advisors LLC purchased a new stake in AutoZone in the 1st quarter worth $32,000. Riverview Trust Co bought a new stake in shares of AutoZone in the first quarter worth about $41,000. Meeder Asset Management Inc. lifted its position in shares of AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in AutoZone during the second quarter valued at approximately $50,000. Finally, ORG Partners LLC purchased a new position in AutoZone during the 2nd quarter valued at approximately $50,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,191.56 on Friday. The stock has a market cap of $54.51 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.43 and a beta of 0.71. The firm’s 50-day moving average is $3,116.79 and its two-hundred day moving average is $3,011.32. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The business had revenue of $6.21 billion for 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 business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $46.46 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 151.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Truist Financial decreased their price objective on shares of AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI cut their target price on 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. Citigroup reduced their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Oppenheimer reiterated a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3,169.38.

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.