Burgundy Asset Management Ltd. Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Burgundy Asset Management Ltd. cut its stake in shares of AutoZone, Inc. (NYSE:AZOFree Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,521 shares of the company’s stock after selling 283 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.12% of AutoZone worth $55,645,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of AutoZone by 232,194.6% during the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after purchasing an additional 731,413 shares in the last quarter. Norges Bank acquired a new position in AutoZone during the fourth quarter worth about $678,350,000. Wellington Management Group LLP increased its holdings in AutoZone by 111.4% in the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after buying an additional 176,623 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of AutoZone by 341.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 159,285 shares of the company’s stock valued at $404,582,000 after acquiring an additional 123,208 shares during the period. Finally, Parnassus Investments LLC grew its holdings in shares of AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after acquiring an additional 58,989 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Trading Down 0.9 %

Shares of AZO traded down $25.13 during midday trading on Wednesday, hitting $2,765.85. The stock had a trading volume of 74,484 shares, compared to its average volume of 153,075. The business has a 50-day simple moving average of $2,952.96 and a two-hundred day simple moving average of $2,835.13. AutoZone, Inc. has a fifty-two week low of $2,303.93 and a fifty-two week high of $3,256.37. The firm has a market cap of $47.90 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.39 and a beta of 0.71.

AutoZone (NYSE:AZOGet Free Report) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a negative return on equity of 54.69% and a net margin of 14.60%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $34.12 EPS. On average, analysts expect that AutoZone, Inc. will post 151.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AZO. Citigroup decreased their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Morgan Stanley decreased their price target on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a report on Wednesday, May 22nd. Truist Financial dropped their price objective on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. raised their target price on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, Wedbush decreased their price objective on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,104.13.

Read Our Latest Stock Analysis on AutoZone

Insider Activity at AutoZone

In related news, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the vice president now directly owns 910 shares of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the transaction, the vice president now directly owns 910 shares in the company, valued at $2,912,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip B. Daniele sold 4,190 shares of AutoZone stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the sale, the chief executive officer now owns 900 shares in the company, valued at $2,845,512. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,990 shares of company stock valued at $41,341,913. 2.50% of the stock is owned by corporate insiders.

AutoZone Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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