AutoZone, Inc. (NYSE:AZO) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,066 shares of the company's stock after selling 291 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of AutoZone worth $32,231,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Creative Planning raised its holdings in AutoZone by 4.0% during the third quarter. Creative Planning now owns 2,519 shares of the company's stock worth $7,933,000 after purchasing an additional 97 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of AutoZone by 5.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 475 shares of the company's stock worth $1,496,000 after purchasing an additional 24 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of AutoZone by 3.5% during the 3rd quarter. Trust Co. of Vermont now owns 497 shares of the company's stock worth $1,566,000 after purchasing an additional 17 shares during the period. Ellsworth Advisors LLC acquired a new stake in shares of AutoZone in the third quarter valued at about $246,000. Finally, M3 Advisory Group LLC purchased a new position in AutoZone in the third quarter valued at about $255,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AZO shares. Guggenheim raised their target price 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. Evercore ISI lifted their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Mizuho increased their target price on AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Truist Financial boosted their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, TD Cowen increased their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the company a "buy" rating in a research note on Monday, December 16th. One equities research 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $3,429.84.

AutoZone Stock Performance

AutoZone stock traded down $72.69 during midday trading on Tuesday, reaching $3,385.86. The stock had a trading volume of 116,593 shares, compared to its average volume of 102,296. The stock's 50-day simple moving average is $3,318.59 and its 200 day simple moving average is $3,200.28. AutoZone, Inc. has a twelve month low of $2,680.96 and a twelve month high of $3,484.42. The stock has a market capitalization of $56.81 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data 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). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the firm earned $32.55 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

About AutoZone

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.