Mount Yale Investment Advisors LLC Trims Stake in AutoZone, Inc. (NYSE:AZO)

Mount Yale Investment Advisors LLC lowered its position in AutoZone, Inc. (NYSE:AZO) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 268 shares of the company’s stock after selling 9 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in AutoZone were worth $845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of AutoZone in the first quarter valued at $32,000. Riverview Trust Co purchased a new position in AutoZone in the 1st quarter worth about $41,000. Turtle Creek Wealth Advisors LLC purchased a new position in AutoZone in the 4th quarter worth about $54,000. Private Wealth Management Group LLC purchased a new position in AutoZone in the 4th quarter worth about $54,000. Finally, Quarry LP purchased a new position in AutoZone in the 4th quarter worth about $70,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.3 %

Shares of NYSE:AZO traded up $9.63 during trading on Tuesday, hitting $3,082.29. 2,024 shares of the stock traded hands, compared to its average volume of 147,471. The company has a market cap of $52.65 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 1.55 and a beta of 0.71. The company has a fifty day moving average price of $2,880.62 and a two-hundred day moving average price of $2,915.44. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Oppenheimer reaffirmed a “market perform” rating and issued a $2,600.00 price target on shares of AutoZone in a research note on Wednesday, June 26th. Evercore ISI reduced their price target on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Barclays reduced their price target on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. StockNews.com cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Citigroup dropped their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3,112.71.

Insiders Place Their Bets

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

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.