Public Employees Retirement Association of Colorado Sells 101 Shares of AutoZone, Inc. (NYSE:AZO)

Public Employees Retirement Association of Colorado decreased its position in AutoZone, Inc. (NYSE:AZO) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,936 shares of the company’s stock after selling 101 shares during the period. Public Employees Retirement Association of Colorado’s holdings in AutoZone were worth $7,321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its holdings in AutoZone by 5,037.7% in the first quarter. Envestnet Asset Management Inc. now owns 1,392,892 shares of the company’s stock valued at $58,264,000 after acquiring an additional 1,365,781 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after acquiring an additional 698,613 shares in the last quarter. Gateway Advisory LLC boosted its holdings in AutoZone by 250,309.8% in the first quarter. Gateway Advisory LLC now owns 535,877 shares of the company’s stock valued at $536,000 after acquiring an additional 535,663 shares in the last quarter. Royal Bank of Canada boosted its holdings in AutoZone by 368.0% in the first quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock valued at $841,242,000 after acquiring an additional 323,536 shares in the last quarter. Finally, Norges Bank bought a new stake in AutoZone in the fourth quarter valued at $658,788,000. Institutional investors own 90.34% of the company’s stock.

Insider Buying and Selling at AutoZone

In other news, VP Domingo Hurtado sold 2,950 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $2,640.84, for a total transaction of $7,790,478.00. Following the completion of the sale, the vice president now owns 156 shares of the company’s stock, valued at approximately $411,971.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Albert Saltiel sold 2,245 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $2,595.04, for a total transaction of $5,825,864.80. Following the completion of the sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $1,393,536.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Domingo Hurtado sold 2,950 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $2,640.84, for a total transaction of $7,790,478.00. Following the sale, the vice president now directly owns 156 shares of the company’s stock, valued at approximately $411,971.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,069 shares of company stock worth $30,651,562. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of AutoZone from $2,721.00 to $2,742.00 and gave the company an “overweight” rating in a report on Wednesday, September 20th. Truist Financial lowered their price objective on AutoZone from $3,006.00 to $2,863.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. DA Davidson raised their price objective on AutoZone from $2,425.00 to $2,500.00 and gave the company a “neutral” rating in a research report on Wednesday, September 20th. Evercore ISI raised their price objective on AutoZone from $2,740.00 to $2,750.00 in a research report on Wednesday, September 20th. Finally, Argus raised their price objective on AutoZone from $2,775.00 to $2,920.00 and gave the company a “buy” rating in a research report on Thursday, September 21st. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,793.95.

AutoZone Stock Performance

AZO opened at $2,684.53 on Wednesday. The stock has a market capitalization of $47.34 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.44 and a beta of 0.65. The company’s 50-day simple moving average is $2,553.06 and its two-hundred day simple moving average is $2,522.49. AutoZone, Inc. has a 52-week low of $2,277.88 and a 52-week high of $2,750.00.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 19th. The company reported $46.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.51 by $1.95. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.62 billion. AutoZone had a net margin of 14.48% and a negative return on equity of 60.66%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $40.51 EPS. Research analysts forecast that AutoZone, Inc. will post 147.6 EPS for the current fiscal year.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.