International Assets Investment Management LLC Decreases Stake in AutoZone, Inc. (NYSE:AZO)

International Assets Investment Management LLC cut its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 100.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 333 shares of the company's stock after selling 993,086 shares during the quarter. International Assets Investment Management LLC's holdings in AutoZone were worth $1,082,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AZO. Private Advisor Group LLC grew its holdings in AutoZone by 4.4% in the second quarter. Private Advisor Group LLC now owns 614 shares of the company's stock valued at $1,820,000 after purchasing an additional 26 shares during the last quarter. Acadian Asset Management LLC raised its position in AutoZone by 24.3% during the second quarter. Acadian Asset Management LLC now owns 1,809 shares of the company's stock worth $5,356,000 after acquiring an additional 354 shares during the last quarter. Choreo LLC lifted its holdings in shares of AutoZone by 163.2% in the second quarter. Choreo LLC now owns 508 shares of the company's stock valued at $1,443,000 after purchasing an additional 315 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of AutoZone by 2.3% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 266 shares of the company's stock valued at $788,000 after purchasing an additional 6 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in shares of AutoZone by 1.4% during the 2nd quarter. Royal London Asset Management Ltd. now owns 7,929 shares of the company's stock worth $23,502,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Stock Performance

AZO traded down $46.93 on Friday, reaching $3,256.42. 132,938 shares of the company's stock were exchanged, compared to its average volume of 119,890. The company has a market cap of $54.65 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.73 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,512.61 and a twelve month high of $3,416.71. The company's 50 day moving average is $3,207.04 and its 200-day moving average is $3,120.68.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 EPS 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 business 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 EPS. The business's revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that AutoZone, Inc. will post 154.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley upped their target price on AutoZone from $3,038.00 to $3,125.00 and gave the company an "overweight" rating in a research note on Wednesday, September 25th. BMO Capital Markets assumed coverage on AutoZone in a research note on Friday, December 13th. They set an "outperform" rating and a $3,700.00 price objective on the stock. 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. Barclays upped their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Truist Financial lifted their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.