AutoZone, Inc. $AZO Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,794 shares of the company’s stock after selling 211 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in AutoZone were worth $23,065,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AZO. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of AutoZone by 6.6% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock valued at $21,315,000 after acquiring an additional 306 shares during the period. Summit Global Investments boosted its holdings in shares of AutoZone by 132.8% during the third quarter. Summit Global Investments now owns 319 shares of the company’s stock valued at $1,369,000 after acquiring an additional 182 shares during the period. Numerai GP LLC boosted its holdings in shares of AutoZone by 1,199.3% during the third quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after acquiring an additional 1,619 shares during the period. Foundations Investment Advisors LLC acquired a new position in shares of AutoZone during the third quarter valued at $678,000. Finally, Caprock Group LLC acquired a new position in shares of AutoZone during the third quarter valued at $4,049,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In other news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,346.35 on Wednesday. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The stock has a fifty day moving average of $3,478.90 and a 200-day moving average of $3,590.51. The company has a market capitalization of $55.15 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.43.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the firm earned $28.29 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, research analysts forecast that AutoZone, Inc. will post 148.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AZO shares. Truist Financial reduced their price objective on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a research report on Monday, March 9th. BMO Capital Markets reduced their price objective on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Robert W. Baird downgraded shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price objective for the company. in a report on Monday, February 9th. Finally, Evercore upped their price objective on shares of AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,312.13.

AutoZone 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.