AutoZone, Inc. $AZO Stake Lowered by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,130 shares of the company’s stock after selling 295 shares during the quarter. Braun Stacey Associates Inc.’s holdings in AutoZone were worth $27,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vontobel Holding Ltd. grew its stake in AutoZone by 277.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after buying an additional 75,382 shares during the last quarter. AQR Capital Management LLC increased its position in AutoZone by 80.8% in the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after buying an additional 45,212 shares during the period. Victory Capital Management Inc. lifted its stake in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after buying an additional 41,467 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of AutoZone during the third quarter valued at $149,656,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of AutoZone by 96.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 61,096 shares of the company’s stock worth $259,533,000 after acquiring an additional 29,929 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, VP Richard Craig Smith sold 5,910 shares of the business’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 transaction of $21,867,000.00. Following the sale, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Raymond James Financial cut their price objective on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 10th. BMO Capital Markets decreased their target price on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. TD Cowen dropped 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. Guggenheim reduced their price objective on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Finally, Wolfe Research lowered AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. One investment 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4,312.13.

AutoZone Stock Down 0.1%

Shares of AZO opened at $3,398.84 on Friday. The firm has a market capitalization of $56.01 billion, a PE ratio of 23.81, a P/E/G ratio of 1.74 and a beta of 0.41. The firm has a 50-day moving average price of $3,618.87 and a 200 day moving average price of $3,712.37. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last released 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. The firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. AutoZone’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $28.29 EPS. On average, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

About AutoZone

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.