Allspring Global Investments Holdings LLC Buys 22,820 Shares of AutoZone, Inc. $AZO

Allspring Global Investments Holdings LLC lifted its position in AutoZone, Inc. (NYSE:AZO) by 37.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 83,916 shares of the company’s stock after purchasing an additional 22,820 shares during the period. Allspring Global Investments Holdings LLC owned about 0.51% of AutoZone worth $277,243,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of AutoZone by 6.6% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock worth $21,315,000 after buying an additional 306 shares during the last quarter. Braun Stacey Associates Inc. lifted its stake in AutoZone by 7.8% in the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock worth $36,145,000 after acquiring an additional 613 shares during the period. Summit Global Investments lifted its stake in AutoZone by 132.8% in the third quarter. Summit Global Investments now owns 319 shares of the company’s stock worth $1,369,000 after acquiring an additional 182 shares during the period. Numerai GP LLC boosted its holdings in AutoZone by 1,199.3% in the third quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after acquiring an additional 1,619 shares in the last quarter. Finally, Foundations Investment Advisors LLC purchased a new position in AutoZone during the 3rd quarter valued at $678,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on AZO shares. Oppenheimer restated an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. Jefferies Financial Group reissued a “buy” rating and issued a $4,400.00 price target on shares of AutoZone in a research note on Wednesday, December 10th. BNP Paribas Exane cut their price objective on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Barclays upped their target price on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Finally, TD Cowen decreased their target price on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research report 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 issued a Hold rating to the company. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,312.13.

Insider Buying and Selling

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the sale, the director owned 3,564 shares in the company, valued at approximately $11,910,852.36. This represents a 2.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value 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. This represents a 69.23% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 9,447 shares of company stock valued at $34,179,923. 2.60% of the stock is owned by corporate insiders.

AutoZone Stock Up 0.9%

AZO stock opened at $3,346.44 on Tuesday. The business has a 50 day moving average of $3,639.58 and a 200 day moving average of $3,732.64. The firm has a market cap of $55.15 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.41. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month 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, topping the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $28.29 earnings per share. On average, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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.