Vanguard Group Inc. Sells 1,617 Shares of AutoZone, Inc. $AZO

Key Points

• Vanguard Group trimmed its AutoZone stake by 1,617 shares in Q4, leaving it with 1,795,931 shares (about 10.84% of the company) valued at roughly $6.09 billion.
• Analysts maintain a consensus rating of “Moderate Buy” on AZO with a consensus price target of $4,312.13, though several firms have recently adjusted targets and one downgraded the stock to neutral.
• AutoZone slightly beat EPS expectations for the quarter ($27.63 vs. $27.59) while revenue missed ($4.27B vs. $4.31B); the company has a market cap of about $58.97 billion and a P/E of 25.07.

Vanguard Group Inc. lowered its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,795,931 shares of the company's stock after selling 1,617 shares during the period. Vanguard Group Inc. owned about 10.84% of AutoZone worth $6,090,900,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone during the 3rd quarter worth about $25,000. Raleigh Capital Management Inc. bought a new stake in AutoZone in the third quarter valued at $26,000. Global Trust Asset Management LLC grew its holdings in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock worth $30,000 after purchasing an additional 6 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of AutoZone during the 3rd quarter worth about $34,000. Finally, Elevated Capital Advisors LLC bought a new position in AutoZone during the 4th quarter valued at about $37,000. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. TD Cowen decreased their price objective on shares of AutoZone from $4,400.00 to $4,250.00 and set a "buy" rating on the stock in a research note on Monday, March 16th. Robert W. Baird lowered shares of AutoZone from an "outperform" rating to a "neutral" rating and set a $3,900.00 price objective on the stock. in a report on Monday, February 9th. Roth Mkm lowered their price objective on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. 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 research note on Wednesday, March 4th. Finally, The Goldman Sachs Group upped their price target on AutoZone from $4,274.00 to $4,345.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $4,312.13.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,578.43 on Monday. The firm's 50 day simple moving average is $3,559.13 and its 200 day simple moving average is $3,640.53. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The company has a market capitalization of $58.97 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 1.83 and a beta of 0.41.

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 firm 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 quarter in the previous year, the company earned $28.29 earnings per share. Equities research analysts expect that AutoZone, Inc. will post 148.93 earnings per share for the current year.

Insider Activity

In related news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company's stock, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.

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