AutoZone, Inc. $AZO Holdings Lowered by Local Pensions Partnership Investment Ltd

Local Pensions Partnership Investment Ltd lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,997 shares of the company’s stock after selling 2,750 shares during the period. AutoZone comprises 3.5% of Local Pensions Partnership Investment Ltd’s holdings, making the stock its 16th biggest holding. Local Pensions Partnership Investment Ltd owned about 0.35% of AutoZone worth $196,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $25,000. Raleigh Capital Management Inc. bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $26,000. Global Trust Asset Management LLC raised its holdings in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $34,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $43,000. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AZO. Truist Financial reduced their price objective on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Oppenheimer reiterated an “outperform” rating and issued a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Citigroup increased their price target on shares of AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. TD Cowen reduced their price target on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,312.13.

AutoZone Stock Performance

NYSE:AZO opened at $3,578.99 on Friday. The stock’s 50 day moving average price is $3,573.58 and its 200 day moving average price is $3,664.31. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The company has a market capitalization of $58.98 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping 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 the consensus estimate of $4.31 billion. During the same quarter in the prior year, the company posted $28.29 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares of the company’s stock, valued at $9,719,900. The trade was a 69.23% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.60% of the company’s stock.

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.