Royal London Asset Management Ltd. Raises Position in AutoZone, Inc. (NYSE:AZO)

Royal London Asset Management Ltd. raised its holdings in AutoZone, Inc. (NYSE:AZO) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,099 shares of the company’s stock after buying an additional 64 shares during the period. Royal London Asset Management Ltd.’s holdings in AutoZone were worth $25,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Enhancing Capital LLC purchased a new stake in shares of AutoZone during the 4th quarter worth $224,000. Intech Investment Management LLC lifted its position in shares of AutoZone by 22.7% during the 4th quarter. Intech Investment Management LLC now owns 5,114 shares of the company’s stock worth $16,375,000 after purchasing an additional 947 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of AutoZone during the 4th quarter worth $3,842,000. Advisors Asset Management Inc. lifted its position in shares of AutoZone by 49.9% during the 4th quarter. Advisors Asset Management Inc. now owns 988 shares of the company’s stock worth $3,164,000 after purchasing an additional 329 shares during the last quarter. Finally, PDS Planning Inc lifted its position in shares of AutoZone by 2.3% during the 4th quarter. PDS Planning Inc now owns 132 shares of the company’s stock worth $423,000 after purchasing an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now owns 50 shares of the company’s stock, valued at approximately $177,500. This represents a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Dennis W. Leriche sold 1,575 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the transaction, the vice president now directly owns 417 shares of the company’s stock, valued at $1,501,200. This trade represents a 79.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,721 shares of company stock valued at $17,009,311. Company insiders own 2.10% of the company’s stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,605.88 on Friday. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,704.43. The company has a market capitalization of $60.51 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The firm’s 50-day moving average is $3,433.28 and its two-hundred day moving average is $3,257.92.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted 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, March 5th. Bank of America boosted their price target on shares of AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Guggenheim boosted their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Truist Financial boosted their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Mizuho boosted their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3,683.36.

About AutoZone

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.