Sterling Capital Management LLC trimmed its position in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 77.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 132 shares of the company’s stock after selling 442 shares during the quarter. Sterling Capital Management LLC’s holdings in AutoZone were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in AutoZone by 42,984.5% during the third quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock valued at $29,821,658,000 after purchasing an additional 10,513,156 shares during the period. BlackRock Inc. bought a new position in AutoZone in the 2nd quarter worth $3,938,566,000. Sound Income Strategies LLC raised its stake in AutoZone by 646,568.6% during the 3rd quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock valued at $1,866,687,000 after purchasing an additional 659,500 shares during the period. Howard Capital Management LLC grew its holdings in AutoZone by 79,236.8% during the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock valued at $1,091,191,000 after buying an additional 385,091 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of AutoZone by 247,417.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock worth $798,963,000 after acquiring an additional 249,892 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on AZO. Bank of America assumed coverage on AutoZone in a research note on Monday. They set a “buy” rating and a $3,800.00 price target for the company. Truist Financial dropped their price objective on shares of AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Robert W. Baird decreased their target price on shares of AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 23rd. The Goldman Sachs Group dropped their target price on AutoZone from $4,096.00 to $3,917.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AutoZone in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3,674.36.
Check Out Our Latest Report on AutoZone
Insiders Place Their Bets
In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.
AutoZone Trading Down 0.5%
Shares of AZO stock opened at $3,139.50 on Friday. The firm has a market capitalization of $50.51 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. AutoZone, Inc. has a 1 year low of $2,730.65 and a 1 year high of $3,996.25. The firm’s fifty day simple moving average is $2,960.70 and its 200 day simple moving average is $3,263.06.
AutoZone (NYSE:AZO – Get Free Report) last released its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same period last year, the firm earned $48.71 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that AutoZone, Inc. will post 170.30 EPS for the current fiscal year.
AutoZone Company Profile
AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.
Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.
Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.
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