Orion Porfolio Solutions LLC Has $6.03 Million Stake in AutoZone, Inc. $AZO

Orion Porfolio Solutions LLC reduced its position in AutoZone, Inc. (NYSE:AZO) by 13.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,407 shares of the company’s stock after selling 213 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in AutoZone were worth $6,034,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AZO. Westpac Banking Corp grew its stake in shares of AutoZone by 2.6% during the second quarter. Westpac Banking Corp now owns 118 shares of the company’s stock worth $438,000 after buying an additional 3 shares during the last quarter. AlphaCore Capital LLC increased its holdings in shares of AutoZone by 42.9% during 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. L2 Asset Management LLC lifted its stake in shares of AutoZone by 4.2% in the 2nd quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock valued at $278,000 after acquiring an additional 3 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of AutoZone by 6.3% in the 2nd quarter. Lazard Asset Management LLC now owns 51 shares of the company’s stock valued at $189,000 after acquiring an additional 3 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC boosted its holdings in shares of AutoZone by 2.5% during the 3rd quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock valued at $536,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on AZO. Weiss Ratings restated a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. Citigroup lifted their price target on AutoZone from $4,200.00 to $4,300.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group restated a “buy” rating and set a $4,400.00 price target on shares of AutoZone in a report on Wednesday, December 10th. Zacks Research raised AutoZone from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Finally, Wells Fargo & Company dropped their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4,311.57.

AutoZone Trading Down 2.7%

Shares of AZO opened at $3,641.03 on Friday. The company has a market capitalization of $60.33 billion, a PE ratio of 25.51, a PEG ratio of 1.86 and a beta of 0.41. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The stock’s 50-day moving average price is $3,621.83 and its two-hundred day moving average price is $3,819.24.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.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 previous year, the company posted $28.29 EPS. The business’s revenue was up 8.2% on a year-over-year basis. Equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the completion of the transaction, the director owned 3,564 shares in the company, valued at approximately $11,910,852.36. This trade represents a 2.65% 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 Brian Hannasch purchased 147 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was purchased at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the transaction, the director directly owned 962 shares in the company, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

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.