Invesco Ltd. Acquires 6,686 Shares of AutoZone, Inc. (NYSE:AZO)

Invesco Ltd. lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 8.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,385 shares of the company's stock after acquiring an additional 6,686 shares during the period. Invesco Ltd. owned 0.53% of AutoZone worth $286,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AZO. Headlands Technologies LLC purchased a new position in AutoZone during the fourth quarter worth about $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at $32,000. Harbour Investments Inc. grew its holdings in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after buying an additional 3 shares in the last quarter. Crews Bank & Trust acquired a new position in AutoZone in the 4th quarter valued at $61,000. Finally, McIlrath & Eck LLC lifted its position in AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock worth $63,000 after buying an additional 4 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AZO shares. Truist Financial boosted their price objective on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Argus lowered AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Barclays raised their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. Evercore ISI raised their price target on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $3,700.00 price objective on shares of AutoZone in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and an average price target of $3,724.00.

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AutoZone Trading Down 1.1 %

Shares of AZO traded down $39.89 during trading hours on Tuesday, hitting $3,640.90. 56,009 shares of the stock traded hands, compared to its average volume of 133,024. The business has a fifty day moving average of $3,560.50 and a 200-day moving average of $3,330.17. The firm has a market capitalization of $61.10 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the transaction, the chief executive officer now owns 163 shares of the company's stock, valued at $619,401.63. This trade represents a 92.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Craig Smith sold 2,850 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the sale, the vice president now directly owns 2,924 shares in the company, valued at $10,555,640. The trade was a 49.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,721 shares of company stock valued at $24,609,331. Company insiders own 2.10% of the company's stock.

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.