AutoZone, Inc. (NYSE:AZO) Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its stake in AutoZone, Inc. (NYSE:AZO) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 5,637 shares of the company’s stock after selling 394 shares during the quarter. Candriam S.C.A.’s holdings in AutoZone were worth $18,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in AutoZone during the 3rd quarter worth $36,000. Darwin Wealth Management LLC acquired a new position in shares of AutoZone during the third quarter worth about $47,000. Crews Bank & Trust purchased a new position in AutoZone during the fourth quarter worth about $61,000. McIlrath & Eck LLC lifted its position in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after purchasing an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in AutoZone in the 3rd quarter valued at approximately $66,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AZO has been the subject of a number of analyst reports. DA Davidson increased their target price on AutoZone from $3,350.00 to $3,500.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group increased their price objective on AutoZone from $3,875.00 to $4,025.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company upped their target price on AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $3,646.62.

AutoZone Stock Performance

AutoZone stock opened at $3,607.20 on Friday. The company has a market cap of $60.54 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,615.79. The firm has a 50 day moving average price of $3,358.39 and a 200 day moving average price of $3,226.46.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. Sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

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.