California Public Employees Retirement System Sells 10,802 Shares of AutoZone, Inc. $AZO

California Public Employees Retirement System cut its stake in AutoZone, Inc. (NYSE:AZO) by 17.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,921 shares of the company’s stock after selling 10,802 shares during the quarter. California Public Employees Retirement System owned about 0.31% of AutoZone worth $222,754,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AZO. Raleigh Capital Management Inc. bought a new position in AutoZone in the 3rd quarter worth about $26,000. Global Trust Asset Management LLC increased its position in shares of AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after buying an additional 6 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of AutoZone during the second quarter valued at about $33,000. Salomon & Ludwin LLC purchased a new stake in shares of AutoZone in the third quarter worth about $34,000. Finally, AlphaCore Capital LLC lifted its holdings in shares of AutoZone by 42.9% in the second quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock worth $37,000 after buying an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the transaction, the vice president directly owned 2,627 shares in the company, valued at approximately $9,719,900. This represents a 69.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the transaction, the director owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,447 shares of company stock valued at $34,179,923 over the last quarter. Insiders own 2.60% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,557.90 on Monday. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The firm has a market cap of $58.95 billion, a PE ratio of 24.93, a PEG ratio of 1.82 and a beta of 0.41. The company has a 50 day simple moving average of $3,649.70 and a two-hundred day simple moving average of $3,799.52.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the firm earned $28.29 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AZO has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of AutoZone from $4,200.00 to $4,300.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Barclays raised their price target on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Oppenheimer restated an “outperform” rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. UBS Group set a $4,800.00 price target on shares of AutoZone in a report on Tuesday, March 3rd. Finally, BMO Capital Markets dropped their price objective on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $4,318.38.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.