Aberdeen Group plc Decreases Position in AutoZone, Inc. $AZO

Aberdeen Group plc decreased its holdings in AutoZone, Inc. (NYSE:AZO) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,108 shares of the company’s stock after selling 370 shares during the period. Aberdeen Group plc owned about 0.07% of AutoZone worth $51,748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Raleigh Capital Management Inc. purchased a new stake in AutoZone during the 3rd quarter worth about $26,000. Aspect Partners LLC boosted its stake in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after buying an additional 7 shares during the period. Global Trust Asset Management LLC boosted its stake 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 valued at $30,000 after buying an additional 6 shares during the period. Bank of Jackson Hole Trust acquired a new position in shares of AutoZone during the second quarter worth about $33,000. Finally, NewSquare Capital LLC increased its stake in shares of AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

AZO opened at $3,850.57 on Monday. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The stock has a market capitalization of $63.80 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.84 and a beta of 0.41. The business’s 50-day simple moving average is $3,538.96 and its 200-day simple moving average is $3,845.52.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $32.52 earnings per share. On average, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AZO. Truist Financial reduced their target price on shares of AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. The Goldman Sachs Group increased their price objective on shares of AutoZone from $4,234.00 to $4,274.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Wells Fargo & Company decreased their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. UBS Group reiterated a “buy” rating and set a $4,555.00 target price on shares of AutoZone in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. dropped their target price on AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating on the stock in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4,271.25.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the transaction, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael A. George bought 145 shares of AutoZone stock in a transaction dated Monday, December 22nd. The stock was acquired at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the acquisition, the director directly owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by insiders.

AutoZone Company 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.