Susquehanna Portfolio Strategies LLC Sells 6,725 Shares of AutoZone, Inc. (NYSE:AZO)

Susquehanna Portfolio Strategies LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 47.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,500 shares of the company’s stock after selling 6,725 shares during the quarter. AutoZone accounts for about 0.9% of Susquehanna Portfolio Strategies LLC’s portfolio, making the stock its 24th largest position. Susquehanna Portfolio Strategies LLC’s holdings in AutoZone were worth $22,231,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Quent Capital LLC boosted its holdings in AutoZone by 4.8% during the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after acquiring an additional 4 shares during the period. Mather Group LLC. boosted its stake in shares of AutoZone by 1.8% during the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after purchasing an additional 4 shares during the period. Conning Inc. grew its holdings in shares of AutoZone by 4.3% in the second quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after purchasing an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in AutoZone by 14.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after buying an additional 4 shares during the period. Finally, Brighton Jones LLC lifted its holdings in AutoZone by 4.1% during the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after buying an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho upped their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday. Truist Financial reduced their price objective on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Oppenheimer restated a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a report on Wednesday, June 26th. Finally, Evercore ISI cut 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 report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $3,169.38.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,196.61 on Friday. The business’s 50-day moving average is $3,116.79 and its 200 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. The firm has a market capitalization of $54.61 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). The company 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 business’s revenue for the quarter 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, analysts expect that AutoZone, Inc. will post 151.08 EPS for the current year.

Insider Transactions at AutoZone

In other AutoZone 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 transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

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.