AutoZone, Inc. (NYSE:AZO) Shares Acquired by Truist Financial Corp

Truist Financial Corp boosted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 60.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,992 shares of the company's stock after acquiring an additional 2,247 shares during the period. Truist Financial Corp's holdings in AutoZone were worth $19,186,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Creative Planning raised its position in shares of AutoZone by 4.0% in the third quarter. Creative Planning now owns 2,519 shares of the company's stock valued at $7,933,000 after buying an additional 97 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of AutoZone by 127.0% during the 3rd quarter. Blue Trust Inc. now owns 84 shares of the company's stock worth $249,000 after purchasing an additional 47 shares during the period. Vicus Capital acquired a new stake in shares of AutoZone during the third quarter valued at about $202,000. Sequoia Financial Advisors LLC raised its stake in shares of AutoZone by 22.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 542 shares of the company's stock valued at $1,707,000 after acquiring an additional 99 shares during the period. Finally, Eastern Bank acquired a new position in shares of AutoZone in the 3rd quarter worth approximately $265,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of NYSE:AZO traded down $40.71 during trading on Friday, hitting $3,365.95. 30,338 shares of the company were exchanged, compared to its average volume of 100,273. The firm's 50 day moving average price is $3,321.68 and its 200-day moving average price is $3,204.55. AutoZone, Inc. has a 12-month low of $2,708.09 and a 12-month high of $3,484.42. The stock has a market capitalization of $56.49 billion, a P/E ratio of 22.49, a PEG ratio of 1.88 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts' consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. AutoZone's revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $32.55 earnings per share. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

AZO has been the subject of several research reports. Truist Financial lifted their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. BMO Capital Markets assumed coverage on AutoZone in a research note on Friday, December 13th. They issued an "outperform" rating and a $3,700.00 price objective for the company. Guggenheim increased their target price on AutoZone from $3,350.00 to $3,750.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Mizuho raised their target price on AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Finally, TD Cowen boosted their price target on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. One research 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 MarketBeat, AutoZone presently has an average rating of "Moderate Buy" and an average target price of $3,429.84.

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.