Boston Partners Sells 12,956 Shares of AutoZone, Inc. (NYSE:AZO)

Boston Partners cut its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 344,331 shares of the company's stock after selling 12,956 shares during the period. AutoZone makes up 1.3% of Boston Partners' holdings, making the stock its 5th biggest holding. Boston Partners owned approximately 2.05% of AutoZone worth $1,103,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Intech Investment Management LLC boosted its stake in shares of AutoZone by 22.7% in the fourth quarter. Intech Investment Management LLC now owns 5,114 shares of the company's stock valued at $16,375,000 after purchasing an additional 947 shares during the period. Generali Asset Management SPA SGR purchased a new position in shares of AutoZone in the fourth quarter valued at approximately $3,842,000. Advisors Asset Management Inc. boosted its stake in shares of AutoZone by 49.9% in the fourth quarter. Advisors Asset Management Inc. now owns 988 shares of the company's stock valued at $3,164,000 after purchasing an additional 329 shares during the period. PDS Planning Inc boosted its stake in shares of AutoZone by 2.3% in the fourth quarter. PDS Planning Inc now owns 132 shares of the company's stock valued at $423,000 after purchasing an additional 3 shares during the period. Finally, Axxcess Wealth Management LLC lifted its stake in AutoZone by 6.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 285 shares of the company's stock worth $913,000 after acquiring an additional 18 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a research note on Thursday, January 9th. DA Davidson upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and upped their target price for the company from $3,500.00 to $4,192.00 in a report on Friday. Truist Financial upped their target price on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, Guggenheim upped their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $3,683.36.

Insider Activity

In other news, VP Richard Craig Smith sold 2,850 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the transaction, the vice president now owns 2,924 shares in the company, valued at $10,555,640. This trade represents a 49.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now owns 50 shares of the company's stock, valued at $177,500. This represents a 76.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,721 shares of company stock worth $17,009,311 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

AutoZone stock traded up $32.50 during trading hours on Friday, reaching $3,605.88. 208,657 shares of the stock were exchanged, compared to its average volume of 126,293. The stock has a market cap of $60.51 billion, a P/E ratio of 24.09, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43. The firm's 50 day moving average is $3,433.28 and its 200 day moving average is $3,257.92.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). The firm had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. Equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone 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.