Great Lakes Retirement Inc. Has $1.06 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Great Lakes Retirement Inc. raised its holdings in AutoZone, Inc. (NYSE:AZO) by 6.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 338 shares of the company’s stock after acquiring an additional 19 shares during the quarter. Great Lakes Retirement Inc.’s holdings in AutoZone were worth $1,064,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of AutoZone by 232,194.6% during the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after buying an additional 731,413 shares during the period. Norges Bank bought a new position in AutoZone during the fourth quarter worth $678,350,000. Parnassus Investments LLC boosted its stake in AutoZone by 32.0% during the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after acquiring an additional 58,989 shares in the last quarter. PineStone Asset Management Inc. boosted its stake in AutoZone by 28.0% during the fourth quarter. PineStone Asset Management Inc. now owns 214,979 shares of the company’s stock worth $555,852,000 after acquiring an additional 47,027 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in AutoZone by 11.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock worth $550,296,000 after acquiring an additional 22,507 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

AutoZone stock traded up $28.46 during mid-day trading on Friday, reaching $2,954.81. 90,239 shares of the company traded hands, compared to its average volume of 149,307. The firm’s 50 day moving average price is $2,870.59 and its 200 day moving average price is $2,891.43. The firm has a market capitalization of $50.47 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 1.50 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $35.67 by $1.02. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $34.12 EPS. On average, sell-side analysts anticipate that AutoZone, Inc. will post 151.57 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on AZO. Wolfe Research dropped their price objective on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Guggenheim increased their target price on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Truist Financial lowered their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Mizuho decreased their price objective on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,112.71.

Insider Buying and Selling

In other news, VP Jenna M. Bedsole acquired 36 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the transaction, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is owned by company insiders.

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.