AutoZone, Inc. $AZO Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.5% in the 4th quarter, HoldingsChannel reports. The firm owned 19,777 shares of the company’s stock after selling 300 shares during the quarter. Employees Retirement System of Texas’ holdings in AutoZone were worth $67,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Raleigh Capital Management Inc. acquired a new stake in AutoZone during the 3rd quarter worth about $26,000. Turning Point Benefit Group Inc. acquired a new position in shares of AutoZone in the 3rd quarter valued at about $25,000. Torren Management LLC purchased a new stake in shares of AutoZone in the fourth quarter worth about $27,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of AutoZone in the third quarter worth about $43,000. Finally, Elevated Capital Advisors LLC acquired a new stake in AutoZone during the fourth quarter worth about $37,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

AutoZone stock opened at $3,100.16 on Wednesday. The stock has a market capitalization of $51.09 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43. The business has a 50 day simple moving average of $3,448.20 and a 200-day simple moving average of $3,579.65. AutoZone, Inc. has a 12 month low of $3,001.00 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $35.36 EPS. On average, equities research analysts anticipate that AutoZone, Inc. will post 149.16 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AZO. Robert W. Baird downgraded AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target for the company. in a report on Monday, February 9th. JPMorgan Chase & Co. lifted their target price on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Truist Financial lowered their price target on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Evercore restated an “outperform” rating on shares of AutoZone in a research report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $4,290.91.

Trending Headlines about AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported adjusted EPS of $38.07, topping analyst estimates, and total revenue rose 8.4% year over year to about $4.84 billion, showing the core business remains healthy. Article Title
• Positive Sentiment: Domestic momentum was a bright spot, with same-store sales up 4.1% and commercial/DIY demand still resilient, supporting confidence that repair demand is holding up despite a mixed consumer backdrop. Article Title
• Neutral Sentiment: On the earnings call, management sounded cautious, saying growth is being offset by accounting-related and margin headwinds, which may limit how much investors reward the beat. Article Title
• Negative Sentiment: Revenue came in slightly below Wall Street expectations, and several reports say the selloff was driven by that miss rather than the EPS beat. Article Title
• Negative Sentiment: Investors also reacted to gross-margin compression, a non-cash LIFO accounting hit, and weaker international performance, which pressured sentiment despite strong sales growth. Article Title

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.