Trivant Custom Portfolio Group LLC Raises Position in AutoZone, Inc. (NYSE:AZO)

Trivant Custom Portfolio Group LLC lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480 shares of the company’s stock after purchasing an additional 7 shares during the quarter. Trivant Custom Portfolio Group LLC’s holdings in AutoZone were worth $1,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC grew its holdings in shares of AutoZone by 4.8% during the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock worth $277,000 after buying an additional 4 shares in the last quarter. Mather Group LLC. lifted its stake 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 in the last quarter. Conning Inc. boosted its holdings in shares of AutoZone by 4.3% during the 2nd 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. grew its position in shares of AutoZone by 14.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock valued at $95,000 after purchasing an additional 4 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of AutoZone by 4.1% in the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after purchasing an additional 4 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred on Wednesday, September 25th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by corporate insiders.

AutoZone Price Performance

Shares of NYSE AZO traded down $33.34 during midday trading on Friday, hitting $3,033.58. The company’s stock had a trading volume of 94,546 shares, compared to its average volume of 141,797. The firm has a market capitalization of $51.82 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The business’s fifty day simple moving average is $3,132.67 and its two-hundred day simple moving average is $3,012.32. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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 company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $46.46 EPS. Analysts anticipate that AutoZone, Inc. will post 151.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AZO shares. Citigroup lowered their price objective on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Morgan Stanley boosted their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Finally, Oppenheimer reissued a “market perform” rating and issued a $2,600.00 price target 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 issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $3,169.38.

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.