AutoZone, Inc. (NYSE:AZO) Shares Sold by Burney Co.

Burney Co. lowered its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 15.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,561 shares of the company's stock after selling 1,363 shares during the quarter. AutoZone makes up about 0.9% of Burney Co.'s holdings, making the stock its 23rd largest holding. Burney Co.'s holdings in AutoZone were worth $24,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company's stock valued at $31,293,100,000 after purchasing an additional 993,139 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after acquiring an additional 60,483 shares during the period. Squarepoint Ops LLC boosted its position in shares of AutoZone by 319.0% during the 2nd quarter. Squarepoint Ops LLC now owns 36,225 shares of the company's stock valued at $107,375,000 after acquiring an additional 27,580 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of AutoZone in the third quarter valued at about $85,127,000. Finally, Erste Asset Management GmbH acquired a new stake in AutoZone during the third quarter worth about $63,379,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AZO shares. UBS Group increased their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. BMO Capital Markets started coverage on AutoZone in a research note on Friday, December 13th. They set an "outperform" rating and a $3,700.00 target price for the company. The Goldman Sachs Group lowered AutoZone from a "buy" rating to a "sell" rating and decreased their price target for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Morgan Stanley raised their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Finally, Redburn Atlantic upgraded shares of AutoZone to a "strong-buy" rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, AutoZone currently has a consensus rating of "Moderate Buy" and an average target price of $3,429.84.

AutoZone Stock Down 0.6 %

AutoZone stock traded down $20.14 during midday trading on Wednesday, reaching $3,207.66. The company's stock had a trading volume of 98,663 shares, compared to its average volume of 112,912. The company has a market cap of $53.83 billion, a P/E ratio of 21.43, a P/E/G ratio of 1.73 and a beta of 0.71. The business has a 50-day simple moving average of $3,219.74 and a 200-day simple moving average of $3,129.05. AutoZone, Inc. has a fifty-two week low of $2,575.00 and a fifty-two week high of $3,416.71.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share 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 analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone's revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $32.55 EPS. As a group, equities analysts forecast that AutoZone, Inc. will post 154.29 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.