Clarius Group LLC Lowers Position in AutoZone, Inc. (NYSE:AZO)

Clarius Group LLC cut its stake in AutoZone, Inc. (NYSE:AZO) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 247 shares of the company’s stock after selling 7 shares during the quarter. Clarius Group LLC’s holdings in AutoZone were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AZO. Rise Advisors LLC purchased a new stake in shares of AutoZone during the first quarter valued at approximately $32,000. Riverview Trust Co purchased a new stake in shares of AutoZone during the first quarter valued at approximately $41,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $54,000. Private Wealth Management Group LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $54,000. Finally, Quarry LP purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $70,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In other AutoZone news, VP Jenna M. Bedsole acquired 36 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the purchase, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is owned by corporate insiders.

AutoZone Price Performance

Shares of AutoZone stock traded down $15.72 during trading hours on Friday, reaching $3,141.30. The company had a trading volume of 7,580 shares, compared to its average volume of 146,270. The firm has a market cap of $53.66 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.58 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The business has a fifty day simple moving average of $2,935.92 and a 200 day simple moving average of $2,938.12.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $35.67 by $1.02. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $34.12 earnings per share. On average, research analysts forecast that AutoZone, Inc. will post 151.37 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial decreased their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Wolfe Research reduced their price objective on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Wedbush reissued an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a report on Wednesday, July 10th. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Guggenheim increased their price objective on AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,112.71.

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.