AutoZone, Inc. $AZO Shares Sold by Firetrail Investments PTY Ltd.

Key Points

• Firetrail Investments PTY Ltd. reduced its AutoZone stake by 26.8% in the fourth quarter, selling 1,039 shares and leaving it with 2,834 shares valued at about $9.66 million.
• Institutional interest in AutoZone remains high, with several large funds boosting holdings; overall, institutional investors own 92.74% of the company.
• Analysts are mostly bullish on AutoZone, with an average Moderate Buy rating and a consensus price target of $4,312.13, even as one firm downgraded the stock to neutral.

Firetrail Investments PTY Ltd. cut its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 26.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,834 shares of the company's stock after selling 1,039 shares during the quarter. AutoZone accounts for 3.2% of Firetrail Investments PTY Ltd.'s portfolio, making the stock its 15th largest position. Firetrail Investments PTY Ltd.'s holdings in AutoZone were worth $9,658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of AutoZone by 39.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company's stock valued at $584,730,000 after buying an additional 50,071 shares during the period. AQR Capital Management LLC grew its holdings in AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company's stock worth $432,059,000 after acquiring an additional 45,212 shares during the period. Victory Capital Management Inc. raised its position in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company's stock worth $222,247,000 after acquiring an additional 41,467 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in AutoZone in the third quarter worth about $149,656,000. Finally, Vanguard Group Inc. lifted its holdings in AutoZone by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock valued at $7,711,912,000 after acquiring an additional 26,544 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently 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 price objective for the company. in a research report on Monday, February 9th. Citigroup boosted their target price on shares of AutoZone from $4,200.00 to $4,300.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. DA Davidson set a $4,300.00 target price on shares of AutoZone in a report on Thursday, March 5th. Roth Mkm decreased their price target on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Finally, Evercore upped their price target on AutoZone from $4,100.00 to $4,125.00 and gave the company an "outperform" rating in a report on Friday, February 27th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $4,312.13.

Insider Activity at AutoZone

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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

AutoZone Trading Down 1.6%

NYSE AZO opened at $3,497.52 on Friday. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The company has a market cap of $57.64 billion, a PE ratio of 24.50, a PEG ratio of 1.79 and a beta of 0.43. The stock's 50-day moving average price is $3,530.25 and its two-hundred day moving average price is $3,617.57.

AutoZone (NYSE:AZO - Get Free Report) last announced its 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 company 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 business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company posted $28.29 earnings per share. Research analysts forecast that AutoZone, Inc. will post 148.93 EPS for the current fiscal year.

About AutoZone

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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