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

California Public Employees Retirement System decreased its holdings in AutoZone, Inc. (NYSE:AZO) by 17.2% in the third quarter, Holdings Channel.com reports. The firm owned 51,921 shares of the company’s stock after selling 10,802 shares during the period. California Public Employees Retirement System’s holdings in AutoZone were worth $222,754,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westpac Banking Corp raised its position in AutoZone by 2.6% in the 2nd quarter. Westpac Banking Corp now owns 118 shares of the company’s stock worth $438,000 after purchasing an additional 3 shares during the period. AlphaCore Capital LLC boosted its position in AutoZone by 42.9% during the second quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock valued at $37,000 after buying an additional 3 shares during the period. L2 Asset Management LLC grew its stake in shares of AutoZone by 4.2% during the second quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock valued at $278,000 after buying an additional 3 shares during the last quarter. AssuredPartners Investment Advisors LLC grew its stake in shares of AutoZone by 2.5% during the third quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock valued at $536,000 after buying an additional 3 shares during the last quarter. Finally, Obermeyer Wealth Partners grew its stake in shares of AutoZone by 4.7% during the third quarter. Obermeyer Wealth Partners now owns 67 shares of the company’s stock valued at $287,000 after buying an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Activity

In related news, Director George R. Mrkonic, Jr. sold 97 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was 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 $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. The trade was a 4.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 9,447 shares of company stock valued at $34,179,923. 2.60% of the stock is owned by insiders.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,557.90 on Monday. The stock’s 50-day moving average is $3,649.70 and its 200 day moving average is $3,799.52. The company has a market cap of $58.95 billion, a PE ratio of 24.93, a P/E/G ratio of 1.82 and a beta of 0.41. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $28.29 EPS. Analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the subject of a number of recent research reports. Mizuho boosted their target price on AutoZone from $3,550.00 to $3,600.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. BNP Paribas Exane decreased their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. DA Davidson set a $4,300.00 price objective on AutoZone in a research report on Thursday, March 5th. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price on the stock in a report on Monday, March 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,318.38.

AutoZone 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.