HighTower Advisors LLC trimmed its stake in AutoZone, Inc. (NYSE:AZO – Free Report) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 32,898 shares of the company’s stock after selling 1,457 shares during the period. HighTower Advisors LLC’s holdings in AutoZone were worth $111,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in AutoZone by 1.5% during the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock worth $7,711,912,000 after buying an additional 26,544 shares in the last quarter. PineStone Asset Management Inc. grew its position in AutoZone by 1.5% during the fourth quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock worth $912,900,000 after buying an additional 3,868 shares in the last quarter. Northern Trust Corp grew its position in AutoZone by 1.2% during the third quarter. Northern Trust Corp now owns 189,789 shares of the company’s stock worth $814,240,000 after buying an additional 2,333 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in AutoZone by 39.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after buying an additional 50,071 shares in the last quarter. Finally, Marshfield Associates grew its position in AutoZone by 3.2% during the third quarter. Marshfield Associates now owns 172,332 shares of the company’s stock worth $739,347,000 after buying an additional 5,293 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on AZO. Robert W. Baird downgraded AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price on the stock. in a research report on Monday, February 9th. DA Davidson set a $4,300.00 price target on shares of AutoZone in a research note on Thursday, March 5th. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target on the stock in a research note on Monday, March 9th. Truist Financial decreased their price target on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, TD Cowen decreased their price target on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4,312.13.
AutoZone Stock Performance
Shares of NYSE:AZO opened at $3,346.35 on Wednesday. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The company’s fifty day moving average is $3,478.90 and its 200-day moving average is $3,590.51. The company has a market capitalization of $55.15 billion, a PE ratio of 23.44, a P/E/G ratio of 1.72 and a beta of 0.43.
AutoZone (NYSE:AZO – Get Free Report) last issued its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating the consensus estimate of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the company earned $28.29 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 148.93 EPS for the current year.
Insider Activity at AutoZone
In other news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.
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