Triasima Portfolio Management inc. Reduces Position in AutoZone, Inc. (NYSE:AZO)

Triasima Portfolio Management inc. decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 7.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 601 shares of the company’s stock after selling 50 shares during the quarter. Triasima Portfolio Management inc.’s holdings in AutoZone were worth $1,554,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. LGT Capital Partners LTD. boosted its position in AutoZone by 32.2% in the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after buying an additional 6,630 shares during the period. Exchange Traded Concepts LLC increased its stake in AutoZone by 42,900.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 430 shares of the company’s stock valued at $1,112,000 after purchasing an additional 429 shares in the last quarter. Compound Global Advisors LLC increased its stake in AutoZone by 23.1% during the 4th quarter. Compound Global Advisors LLC now owns 4,991 shares of the company’s stock valued at $12,905,000 after purchasing an additional 938 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of AutoZone in the third quarter worth $51,000. Finally, Pacer Advisors Inc. grew its position in AutoZone by 77.1% during the fourth quarter. Pacer Advisors Inc. now owns 2,562 shares of the company’s stock valued at $6,624,000 after buying an additional 1,115 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock traded down $44.44 on Friday, reaching $2,962.32. The company had a trading volume of 147,791 shares, compared to its average volume of 131,568. The firm’s 50 day moving average price is $2,988.35 and its two-hundred day moving average price is $2,744.90. The firm has a market cap of $51.31 billion, a PE ratio of 20.86, a PEG ratio of 1.47 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,277.88 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $26.08 by $2.81. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $24.64 EPS. As a group, sell-side analysts predict that AutoZone, Inc. will post 151.98 EPS for the current year.

Insider Activity

In related news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the sale, the chairman now directly owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the sale, the chairman now directly owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the sale, the vice president now directly owns 2,921 shares in the company, valued at $8,756,456.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,583 shares of company stock valued at $60,056,012. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AZO. Morgan Stanley increased their price objective on shares of AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Barclays increased their price objective on shares of AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Wedbush increased their price objective on shares of AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Truist Financial increased their price objective on shares of AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Mizuho started coverage on shares of AutoZone in a research note on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 price target on the stock. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,089.61.

About AutoZone

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.