SeaTown Holdings Pte. Ltd. Grows Holdings in AutoZone, Inc. $AZO

SeaTown Holdings Pte. Ltd. grew its position in AutoZone, Inc. (NYSE:AZO) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,164 shares of the company’s stock after acquiring an additional 470 shares during the quarter. AutoZone comprises about 6.2% of SeaTown Holdings Pte. Ltd.’s portfolio, making the stock its 4th largest position. SeaTown Holdings Pte. Ltd.’s holdings in AutoZone were worth $10,731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZO. Vontobel Holding Ltd. increased its stake in AutoZone by 277.3% in 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 period. AQR Capital Management LLC raised its position in shares of AutoZone by 80.8% in the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after acquiring an additional 45,212 shares in the last quarter. Victory Capital Management Inc. raised its holdings in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock worth $222,247,000 after purchasing an additional 41,467 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in AutoZone during the third quarter valued at approximately $149,656,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of AutoZone by 96.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 61,096 shares of the company’s stock valued at $259,533,000 after purchasing an additional 29,929 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Trading Down 0.1%

NYSE AZO opened at $3,398.84 on Monday. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The stock has a market cap 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 stock has a fifty day simple moving average of $3,618.87 and a 200-day simple moving average of $3,708.77.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the firm earned $28.29 EPS. The business’s revenue was up 8.2% on a year-over-year basis. Research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Raymond James Financial lowered their target price on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research note on Wednesday, December 10th. Wells Fargo & Company decreased their target price on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Barclays increased their price target on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Truist Financial dropped their target price on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Citigroup boosted their price target on AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4,312.13.

Insider Transactions at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This represents 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 owned by company insiders.

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.