KBC Group NV Raises Stock Holdings in AutoZone, Inc. (NYSE:AZO)

KBC Group NV raised its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,505 shares of the company's stock after purchasing an additional 238 shares during the quarter. KBC Group NV's holdings in AutoZone were worth $24,031,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AZO. International Assets Investment Management LLC lifted its stake in shares of AutoZone by 354,692.5% during the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company's stock valued at $31,293,100,000 after buying an additional 993,139 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AutoZone by 1.8% in the third quarter. Geode Capital Management LLC now owns 421,716 shares of the company's stock valued at $1,326,545,000 after acquiring an additional 7,365 shares in the last quarter. Marshfield Associates boosted its stake in shares of AutoZone by 0.5% in the third quarter. Marshfield Associates now owns 169,586 shares of the company's stock worth $534,204,000 after acquiring an additional 796 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of AutoZone by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 104,665 shares of the company's stock worth $329,699,000 after purchasing an additional 466 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock valued at $292,544,000 after purchasing an additional 60,483 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Evercore ISI raised their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Roth Mkm reaffirmed a "buy" rating and issued a $3,634.00 price objective on shares of AutoZone in a research note on Wednesday, October 16th. Truist Financial upped their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Wells Fargo & Company raised their target price on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Finally, Barclays increased their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an "overweight" rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, AutoZone presently has an average rating of "Moderate Buy" and an average target price of $3,429.84.

AutoZone Price Performance

Shares of NYSE:AZO traded down $3.08 on Wednesday, hitting $3,315.50. 84,032 shares of the company's stock were exchanged, compared to its average volume of 110,302. The stock has a market capitalization of $55.63 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.84 and a beta of 0.71. AutoZone, Inc. has a 12 month low of $2,672.31 and a 12 month high of $3,437.63. The business's 50 day simple moving average is $3,247.14 and its two-hundred day simple moving average is $3,159.59.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the previous year, the business earned $32.55 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal 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.