AutoZone, Inc. $AZO Stock: Beutel Goodman & Co Ltd. Boosts Position

Beutel Goodman & Co Ltd. grew its holdings in AutoZone, Inc. (NYSE:AZO) by 23.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 58,300 shares of the company’s stock after buying an additional 11,257 shares during the period. Beutel Goodman & Co Ltd.’s holdings in AutoZone were worth $164,990,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AZO. Assenagon Asset Management S.A. boosted its stake in AutoZone by 42,984.5% during the third quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock worth $29,821,658,000 after buying an additional 10,513,156 shares during the period. BlackRock Inc. acquired a new stake in shares of AutoZone during the second quarter valued at about $3,938,566,000. Sound Income Strategies LLC raised its stake in shares of AutoZone by 646,568.6% in the 3rd quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock valued at $1,866,687,000 after acquiring an additional 659,500 shares during the period. Howard Capital Management LLC raised its stake in shares of AutoZone by 79,236.8% in the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock valued at $1,091,191,000 after acquiring an additional 385,091 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of AutoZone by 247,417.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock valued at $798,963,000 after acquiring an additional 249,892 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE AZO opened at $3,254.78 on Tuesday. The company has a market cap of $52.37 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.71 and a beta of 0.37. The stock has a 50-day moving average of $2,998.38 and a two-hundred day moving average of $3,253.06. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $3,996.25.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the prior year, the company earned $48.71 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts anticipate that AutoZone, Inc. will post 170.30 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In related news, CFO Jamere Jackson sold 6,900 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the sale, the chief financial officer directly owned 496 shares of the company’s stock, valued at $1,646,576.16. This represents a 93.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Raymond James Financial decreased their price objective on shares of AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 23rd. UBS Group set a $3,850.00 target price on shares of AutoZone in a report on Wednesday, September 23rd. Barclays dropped their target price on shares of AutoZone from $3,637.00 to $3,400.00 and set an “overweight” rating for the company in a report on Wednesday, September 23rd. Piper Sandler set a $3,500.00 target price on AutoZone in a research report on Monday, August 31st. Finally, Roth Capital decreased their price target on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average target price of $3,674.36.

About AutoZone

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores.

Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.