Allstate Corp Has $4.23 Million Position in AutoZone, Inc. $AZO

Key Points

• Allstate Corp increased its AutoZone stake by 108.9% in the fourth quarter, ending with 1,247 shares worth about $4.23 million.
• AutoZone remains heavily owned by institutions, with 92.74% of shares held by institutional investors and hedge funds, while several large funds also boosted their positions.
• The company recently reported EPS of $38.07, beating estimates, but revenue of $4.84 billion fell slightly short of expectations and the stock has pulled back sharply, opening around $3,100 and down 9.0%.

Allstate Corp boosted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 108.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,247 shares of the company's stock after buying an additional 650 shares during the period. Allstate Corp's holdings in AutoZone were worth $4,229,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in AutoZone by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock worth $7,711,912,000 after purchasing an additional 26,544 shares during the period. PineStone Asset Management Inc. raised its holdings in AutoZone by 1.5% in the fourth quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company's stock worth $912,900,000 after purchasing an additional 3,868 shares during the period. Northern Trust Corp raised its holdings in AutoZone by 1.2% in the third quarter. Northern Trust Corp now owns 189,789 shares of the company's stock worth $814,240,000 after purchasing an additional 2,333 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in AutoZone by 39.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company's stock worth $584,730,000 after purchasing an additional 50,071 shares during the period. Finally, Marshfield Associates raised its holdings in AutoZone by 3.2% in the third quarter. Marshfield Associates now owns 172,332 shares of the company's stock worth $739,347,000 after purchasing an additional 5,293 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Robert W. Baird lowered shares of AutoZone from an "outperform" rating to a "neutral" rating and set a $3,900.00 target price on the stock. in a report on Monday, February 9th. Argus raised shares of 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. Barclays increased their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 4th. BMO Capital Markets lowered their price objective on shares of 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $4,100.00 to $4,300.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $4,290.91.

Insiders Place Their Bets

In related news, Director Earl G. Graves, Jr. sold 50 shares of the firm's stock in a transaction 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 transaction, the director owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. This trade 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 is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

Key Stories Impacting AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported adjusted EPS of $38.07, topping analyst estimates, and total revenue rose 8.4% year over year to about $4.84 billion, showing the core business remains healthy. Article Title
• Positive Sentiment: Domestic momentum was a bright spot, with same-store sales up 4.1% and commercial/DIY demand still resilient, supporting confidence that repair demand is holding up despite a mixed consumer backdrop. Article Title
• Neutral Sentiment: On the earnings call, management sounded cautious, saying growth is being offset by accounting-related and margin headwinds, which may limit how much investors reward the beat. Article Title
• Negative Sentiment: Revenue came in slightly below Wall Street expectations, and several reports say the selloff was driven by that miss rather than the EPS beat. Article Title
• Negative Sentiment: Investors also reacted to gross-margin compression, a non-cash LIFO accounting hit, and weaker international performance, which pressured sentiment despite strong sales growth. Article Title

AutoZone Stock Down 9.0%

Shares of AZO stock opened at $3,100.16 on Wednesday. The firm has a fifty day moving average of $3,448.20 and a 200-day moving average of $3,579.65. AutoZone, Inc. has a 12-month low of $3,001.00 and a 12-month high of $4,388.11. The company has a market capitalization of $51.09 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 1.74 and a beta of 0.43.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts' consensus estimates of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $35.36 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 149.16 EPS for the current year.

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.

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