AutoZone, Inc. (NYSE:AZO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,649 shares of the company's stock after selling 384 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in AutoZone were worth $24,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZO. Capital Performance Advisors LLP acquired a new position in AutoZone during the 3rd quarter valued at approximately $36,000. Carolina Wealth Advisors LLC purchased a new stake in shares of AutoZone during the third quarter valued at $47,000. Darwin Wealth Management LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at $47,000. Crews Bank & Trust purchased a new position in AutoZone in the 4th quarter worth $61,000. Finally, McIlrath & Eck LLC lifted its position in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock worth $63,000 after acquiring an additional 4 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Up 0.4 %

AZO traded up $13.73 during midday trading on Wednesday, hitting $3,398.16. 47,094 shares of the company traded hands, compared to its average volume of 101,982. The business has a 50 day simple moving average of $3,319.35 and a two-hundred day simple moving average of $3,201.75. AutoZone, Inc. has a 52-week low of $2,680.96 and a 52-week high of $3,484.42. The company has a market capitalization of $57.02 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.91 and a beta of 0.70.

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

Wall Street Analyst Weigh In

AZO has been the subject of several research analyst reports. Guggenheim raised their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Wells Fargo & Company raised their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Truist Financial upped their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Evercore ISI increased their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Finally, Citigroup boosted their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, AutoZone presently has an average rating of "Moderate Buy" and a consensus price target of $3,429.84.

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.