Private Management Group Inc. Sells 1,003 Shares of AutoZone, Inc. (NYSE:AZO)

Private Management Group Inc. decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,428 shares of the company's stock after selling 1,003 shares during the period. Private Management Group Inc.'s holdings in AutoZone were worth $10,976,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Tectonic Advisors LLC grew its position in shares of AutoZone by 3.1% during the 4th quarter. Tectonic Advisors LLC now owns 1,917 shares of the company's stock worth $6,138,000 after buying an additional 57 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in AutoZone by 13.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,534 shares of the company's stock worth $8,149,000 after purchasing an additional 299 shares during the period. Weaver Capital Management LLC grew its stake in shares of AutoZone by 3.9% in the 4th quarter. Weaver Capital Management LLC now owns 1,142 shares of the company's stock valued at $3,658,000 after buying an additional 43 shares during the period. Stratos Wealth Partners LTD. increased its position in AutoZone by 4.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 129 shares of the company's stock valued at $413,000 after buying an additional 5 shares in the last quarter. Finally, Trust Point Inc. raised its stake in AutoZone by 17.1% during the 4th quarter. Trust Point Inc. now owns 89 shares of the company's stock worth $285,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AZO shares. Roth Mkm reiterated a "buy" rating and set a $3,634.00 price target on shares of AutoZone in a research note on Wednesday, October 16th. Mizuho raised their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their target price on AutoZone from $3,450.00 to $3,750.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Truist Financial increased their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Finally, Evercore ISI boosted their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $3,429.84.

AutoZone Trading Down 1.3 %

Shares of AZO traded down $46.27 during trading hours on Friday, reaching $3,420.42. 85,082 shares of the company's stock traded hands, compared to its average volume of 103,996. AutoZone, Inc. has a 12 month low of $2,672.31 and a 12 month high of $3,484.42. The stock has a market cap of $57.39 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70. The firm's 50 day simple moving average is $3,292.17 and its 200-day simple moving average is $3,183.76.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $32.55 earnings per share. As a group, analysts expect 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.