Asset Management One Co. Ltd. Trims Holdings in AutoZone, Inc. (NYSE:AZO)

Asset Management One Co. Ltd. reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.7% in the fourth quarter, HoldingsChannel reports. The fund owned 6,491 shares of the company’s stock after selling 322 shares during the period. Asset Management One Co. Ltd.’s holdings in AutoZone were worth $21,041,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AZO. Capital Performance Advisors LLP purchased a new position in shares of AutoZone during the third quarter valued at approximately $36,000. Carolina Wealth Advisors LLC bought a new position in AutoZone during the 3rd quarter valued at approximately $47,000. Darwin Wealth Management LLC purchased a new position in AutoZone during the third quarter valued at $47,000. Crews Bank & Trust purchased a new position in AutoZone during the fourth quarter valued at $61,000. Finally, McIlrath & Eck LLC boosted its holdings in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after acquiring an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,461.94 on Friday. The stock’s 50-day simple moving average is $3,315.89 and its two-hundred day simple moving average is $3,197.01. The stock has a market capitalization of $58.09 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.92 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,680.96 and a 52-week high of $3,484.42.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on AZO. Barclays raised their price target on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Evercore ISI raised their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Argus upped their target price on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Truist Financial raised their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, TD Cowen upped their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone 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.