abrdn plc Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

abrdn plc reduced its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,908 shares of the company's stock after selling 515 shares during the period. abrdn plc's holdings in AutoZone were worth $18,772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Petredis Investment Advisors LLC lifted its holdings in shares of AutoZone by 0.6% in the 3rd quarter. Petredis Investment Advisors LLC now owns 710 shares of the company's stock worth $2,237,000 after buying an additional 4 shares during the period. IVC Wealth Advisors LLC lifted its position in shares of AutoZone by 4.4% in the 3rd quarter. IVC Wealth Advisors LLC now owns 95 shares of the company's stock worth $299,000 after purchasing an additional 4 shares during the period. Allworth Financial LP boosted its stake in shares of AutoZone by 5.0% during the third quarter. Allworth Financial LP now owns 84 shares of the company's stock valued at $265,000 after purchasing an additional 4 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in AutoZone by 1.5% in the third quarter. Axxcess Wealth Management LLC now owns 267 shares of the company's stock worth $841,000 after buying an additional 4 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in AutoZone by 4.2% during the 3rd quarter. Moors & Cabot Inc. now owns 99 shares of the company's stock valued at $312,000 after acquiring an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AZO. Roth Mkm reiterated a "buy" rating and issued a $3,634.00 target price on shares of AutoZone in a research note on Wednesday, October 16th. Evercore ISI upped their target price on AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Guggenheim upped their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. The Goldman Sachs Group lowered shares of AutoZone from a "buy" rating to a "sell" rating and dropped their price objective for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Argus boosted their price target on AutoZone from $3,560.00 to $3,678.00 and gave the company a "buy" rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $3,429.84.

AutoZone Trading Up 0.2 %

AZO stock opened at $3,428.09 on Tuesday. The firm has a 50-day moving average of $3,292.17 and a two-hundred day moving average of $3,185.47. The company has a market cap of $57.52 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.92 and a beta of 0.70. AutoZone, Inc. has a 12 month low of $2,672.31 and a 12 month high of $3,484.42.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $33.69 by ($1.17). The firm had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $32.55 EPS. As a group, equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.