New York State Teachers Retirement System Cuts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

New York State Teachers Retirement System decreased its position in AutoZone, Inc. (NYSE:AZO) by 5.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,082 shares of the company’s stock after selling 961 shares during the period. New York State Teachers Retirement System owned about 0.09% of AutoZone worth $47,669,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AZO. Rise Advisors LLC acquired a new position in shares of AutoZone during the 1st quarter worth about $32,000. Riverview Trust Co purchased a new stake in AutoZone in the 1st quarter valued at about $41,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of AutoZone during the 2nd quarter worth approximately $50,000. ORG Partners LLC acquired a new stake in AutoZone in the 2nd quarter valued at approximately $50,000. Finally, Private Wealth Management Group LLC acquired a new position in AutoZone during the fourth quarter worth $54,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AZO. Evercore ISI cut their price objective on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Wolfe Research reduced their target price on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. Mizuho dropped their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Citigroup cut their price objective on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Finally, Guggenheim lifted their target price on AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,112.71.

AutoZone Trading Down 1.9 %

NYSE:AZO traded down $58.87 during midday trading on Friday, hitting $3,112.02. 55,897 shares of the company were exchanged, compared to its average volume of 143,710. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The company has a market capitalization of $53.16 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.58 and a beta of 0.71. The company has a fifty day simple moving average of $3,012.81 and a 200 day simple moving average of $2,965.21.

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

AutoZone 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.