Retirement Systems of Alabama trimmed its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 70.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,738 shares of the company's stock after selling 9,042 shares during the quarter. Retirement Systems of Alabama's holdings in AutoZone were worth $11,775,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Oddo BHF Asset Management Sas acquired a new position in AutoZone during the third quarter worth $2,208,000. Franklin Resources Inc. increased its stake in AutoZone by 18.1% during the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock worth $141,717,000 after purchasing an additional 6,898 shares during the period. Asset Advisors Investment Management LLC increased its stake in shares of AutoZone by 44.9% during the third quarter. Asset Advisors Investment Management LLC now owns 1,678 shares of the company's stock worth $5,286,000 after buying an additional 520 shares during the period. Tidal Investments LLC lifted its position in shares of AutoZone by 38.6% during the 3rd quarter. Tidal Investments LLC now owns 1,192 shares of the company's stock worth $3,755,000 after purchasing an additional 332 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in AutoZone during the 3rd quarter worth about $781,000. Hedge funds and other institutional investors own 92.74% of the company's stock.
Wall Street Analyst Weigh In
AZO has been the subject of a number of research reports. Mizuho boosted their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. TD Cowen boosted their target price on AutoZone from $3,450.00 to $3,800.00 and gave the company a "buy" rating in a report on Monday. Guggenheim increased their target price 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. Truist Financial increased their price target 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. Finally, Redburn Atlantic upgraded shares of AutoZone to a "strong-buy" rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $3,384.89.
Read Our Latest Research Report on AZO
Insider Transactions at AutoZone
In related news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company's stock, valued at $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the business's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is currently owned by company insiders.
AutoZone Stock Performance
Shares of NYSE AZO traded down $28.02 during midday trading on Tuesday, reaching $3,322.11. 136,110 shares of the company's stock were exchanged, compared to its average volume of 139,473. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,416.71. The business's fifty day moving average price is $3,161.08 and its two-hundred day moving average price is $3,073.34. The stock has a market capitalization of $56.16 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.
AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). The business had revenue of $4.28 billion for 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 business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $32.55 earnings per share. Analysts predict that AutoZone, Inc. will post 154.29 earnings per share for the current fiscal year.
AutoZone Profile
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Free Report)
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.
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