Truist Financial Corp Acquires 2,247 Shares of AutoZone, Inc. (NYSE:AZO)

Truist Financial Corp increased its holdings in AutoZone, Inc. (NYSE:AZO) by 60.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,992 shares of the company’s stock after purchasing an additional 2,247 shares during the quarter. Truist Financial Corp’s holdings in AutoZone were worth $19,186,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after purchasing an additional 993,139 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AutoZone by 1.8% during the third quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after purchasing an additional 7,365 shares in the last quarter. PineStone Asset Management Inc. increased its position in shares of AutoZone by 6.9% during the fourth quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock worth $683,867,000 after purchasing an additional 13,771 shares in the last quarter. Marshfield Associates increased its position in shares of AutoZone by 0.5% during the third quarter. Marshfield Associates now owns 169,586 shares of the company’s stock worth $534,204,000 after purchasing an additional 796 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of AutoZone by 35.6% during the fourth quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock worth $522,211,000 after purchasing an additional 42,776 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.4 %

AZO stock opened at $3,398.16 on Thursday. The company’s 50-day simple moving average is $3,320.42 and its 200-day simple moving average is $3,203.12. AutoZone, Inc. has a 52-week low of $2,680.96 and a 52-week high of $3,484.42. The firm has a market cap of $57.02 billion, a P/E ratio of 22.70, a PEG ratio of 1.91 and a beta of 0.70.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AZO. Barclays upped their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Citigroup boosted their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Guggenheim boosted their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Evercore ISI boosted their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, TD Cowen boosted their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. 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. According to data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus 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.