Te Ahumairangi Investment Management Ltd Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Te Ahumairangi Investment Management Ltd lessened its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 39.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 566 shares of the company's stock after selling 375 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in AutoZone were worth $1,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZO. Meeder Advisory Services Inc. raised its stake in shares of AutoZone by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock worth $1,188,000 after buying an additional 3 shares during the period. Headlands Technologies LLC purchased a new stake in shares of AutoZone during the 4th quarter worth approximately $29,000. Franklin Resources Inc. lifted its position in AutoZone by 13.7% during the fourth quarter. Franklin Resources Inc. now owns 51,084 shares of the company's stock valued at $163,571,000 after purchasing an additional 6,138 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of AutoZone by 3.3% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 9,558 shares of the company's stock valued at $30,550,000 after acquiring an additional 307 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of AutoZone by 0.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,912 shares of the company's stock valued at $12,526,000 after purchasing an additional 33 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

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AutoZone Stock Down 4.5 %

AZO stock traded down $172.13 during midday trading on Friday, hitting $3,654.02. The company's stock had a trading volume of 209,922 shares, compared to its average volume of 131,918. The firm has a market capitalization of $61.32 billion, a P/E ratio of 24.41, a PEG ratio of 1.86 and a beta of 0.54. The firm has a 50-day simple moving average of $3,531.36 and a 200-day simple moving average of $3,303.38. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. On average, sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares of the company's stock, valued at $177,500. This represents a 76.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Richard Craig Smith sold 2,850 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now 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. Over the last ninety days, insiders have sold 6,721 shares of company stock worth $24,609,331. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays raised their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a research report on Thursday, January 9th. Argus downgraded AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Mizuho increased their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Truist Financial lifted their price target on AutoZone from $3,753.00 to $3,841.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Finally, UBS Group increased their price objective on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, AutoZone has a consensus rating of "Moderate Buy" and a consensus target price of $3,724.00.

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.