AutoZone, Inc. (NYSE:AZO) Shares Sold by Summit Asset Management LLC

Summit Asset Management LLC lessened its stake in AutoZone, Inc. (NYSE:AZO) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,287 shares of the company’s stock after selling 230 shares during the period. AutoZone makes up 1.3% of Summit Asset Management LLC’s portfolio, making the stock its 21st largest position. Summit Asset Management LLC’s holdings in AutoZone were worth $7,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Hennion & Walsh Asset Management Inc. increased its position in AutoZone by 3.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 626 shares of the company’s stock worth $1,972,000 after purchasing an additional 18 shares during the period. Allworth Financial LP increased its position in AutoZone by 5.0% during the 3rd quarter. Allworth Financial LP now owns 84 shares of the company’s stock worth $265,000 after purchasing an additional 4 shares during the period. Parcion Private Wealth LLC acquired a new position in AutoZone during the 3rd quarter worth approximately $265,000. Mirae Asset Global Investments Co. Ltd. increased its position in AutoZone by 44.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,235 shares of the company’s stock worth $7,040,000 after purchasing an additional 685 shares during the period. Finally, Forsta AP Fonden grew its holdings in shares of AutoZone by 9.4% in the 3rd quarter. Forsta AP Fonden now owns 3,500 shares of the company’s stock worth $11,025,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Down 1.2 %

Shares of AutoZone stock opened at $3,366.15 on Friday. The firm has a market cap of $56.48 billion, a PE ratio of 22.49, a P/E/G ratio of 1.88 and a beta of 0.70. The business’s fifty day moving average is $3,321.62 and its two-hundred day moving average is $3,206.92. AutoZone, Inc. has a fifty-two week low of $2,708.09 and a fifty-two week high of $3,484.42.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AZO shares. TD Cowen upped their price target on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Truist Financial upped their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets started coverage on AutoZone in a report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price target on the stock. Argus upped their price target on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, Wells Fargo & Company upped their price target on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Company 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.