AutoZone, Inc. $AZO Position Decreased by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions cut its AutoZone stake by 10.7% in the fourth quarter, selling 2,002 shares and leaving it with 16,622 shares valued at about $56.4 million.
• AutoZone’s latest quarterly results beat EPS expectations slightly, with earnings of $27.63 per share versus $27.59 expected, while revenue came in a bit below forecasts at $4.27 billion. Revenue still rose 8.2% year over year.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $4,290.91, even as some firms adjusted targets recently.

ABN Amro Investment Solutions decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,622 shares of the company's stock after selling 2,002 shares during the period. AutoZone makes up 0.8% of ABN Amro Investment Solutions' portfolio, making the stock its 29th biggest holding. ABN Amro Investment Solutions owned 0.10% of AutoZone worth $56,374,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AZO. Northwestern Mutual Wealth Management Co. boosted its position in shares of AutoZone by 387.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company's stock valued at $263,832,000 after purchasing an additional 61,821 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of AutoZone by 39.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company's stock valued at $584,730,000 after purchasing an additional 50,071 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of AutoZone by 80.8% during the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company's stock valued at $432,059,000 after purchasing an additional 45,212 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of AutoZone by 401.2% during the 3rd quarter. Victory Capital Management Inc. now owns 51,803 shares of the company's stock valued at $222,247,000 after purchasing an additional 41,467 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in shares of AutoZone during the 3rd quarter valued at about $149,656,000. Institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AZO shares. UBS Group set a $4,800.00 price objective on shares of AutoZone in a research report on Tuesday, March 3rd. DA Davidson set a $4,300.00 price objective on shares of AutoZone in a research note on Thursday, March 5th. BMO Capital Markets reduced 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 note on Wednesday, March 4th. Evercore upped their price objective on shares of AutoZone from $4,100.00 to $4,125.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Finally, 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 note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $4,290.91.

AutoZone Stock Performance

AZO stock opened at $3,419.67 on Thursday. The stock has a market cap of $56.36 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.72 and a beta of 0.43. The firm has a 50 day simple moving average of $3,473.64 and a 200 day simple moving average of $3,588.47. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $28.29 earnings per share. Sell-side analysts predict that AutoZone, Inc. will post 148.93 EPS for the current year.

Insiders Place Their Bets

In related news, Director Earl G. Graves, Jr. sold 50 shares of the firm's 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 transaction of $173,936.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company's stock.

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.

Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.