Sumitomo Mitsui Trust Group Inc. Has $136.16 Million Stock Position in AutoZone, Inc. $AZO

Key Points

• Sumitomo Mitsui Trust trimmed its AutoZone stake by 4.3% in Q4 and now owns 40,148 shares (about 0.24% of the company) valued at approximately $136.16 million.
• AutoZone has a consensus analyst rating of Moderate Buy with a consensus target price of $4,312.13, though recent notes show mixed revisions (some price-target cuts and some raises).
• Insider activity and institutional ownership: VP Richard Craig Smith sold 5,910 shares for roughly $21.87 million (a 69% cut in his stake), while institutions collectively own about 92.74% of the company.

Sumitomo Mitsui Trust Group Inc. decreased its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,148 shares of the company's stock after selling 1,807 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of AutoZone worth $136,162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AZO. Vontobel Holding Ltd. grew its stake in shares of AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company's stock worth $440,037,000 after acquiring an additional 75,382 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of AutoZone by 80.8% in 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 last quarter. Victory Capital Management Inc. grew its stake in shares of 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 during the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of AutoZone in the third quarter worth $149,656,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of AutoZone by 96.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 61,096 shares of the company's stock worth $259,533,000 after acquiring an additional 29,929 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AZO shares. BMO Capital Markets lowered their price objective on shares of AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 4th. Roth Mkm lowered their price objective on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Evercore raised their price objective on shares of AutoZone from $4,100.00 to $4,125.00 and gave the stock an "outperform" rating in a research note on Friday, February 27th. Barclays raised their target price on AutoZone from $3,800.00 to $3,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 4th. Finally, Wolfe Research cut AutoZone from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $4,312.13.

Insider Activity

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the transaction, the vice president directly owned 2,627 shares of the company's stock, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company's stock.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,516.28 on Tuesday. The stock has a market cap of $57.95 billion, a PE ratio of 24.63, a PEG ratio of 1.75 and a beta of 0.41. The business has a fifty day moving average of $3,584.61 and a two-hundred day moving average of $3,680.44. 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 issued its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 negative return on equity of 72.31% and a net margin of 12.47%.The business's revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $28.29 earnings per share. Analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current 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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