Vaughan Nelson Investment Management L.P. Reduces Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Vaughan Nelson Investment Management L.P. trimmed its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 70.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,144 shares of the company's stock after selling 21,394 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.05% of AutoZone worth $23,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Householder Group Estate & Retirement Specialist LLC bought a new stake in AutoZone during the 3rd quarter valued at about $25,000. Rock Creek Group LP bought a new stake in shares of AutoZone in the third quarter worth approximately $25,000. First Capital Advisors Group LLC. bought a new stake in shares of AutoZone in the second quarter worth approximately $32,000. MUFG Americas Holdings Corp grew its stake in shares of AutoZone by 166.7% in the third quarter. MUFG Americas Holdings Corp now owns 16 shares of the company's stock worth $34,000 after acquiring an additional 10 shares during the period. Finally, Mascoma Wealth Management LLC bought a new stake in shares of AutoZone in the third quarter worth approximately $38,000. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman William C. Rhodes III sold 6,700 shares of the firm's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the transaction, the chairman now owns 15,357 shares of the company's stock, valued at approximately $48,992,208.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George R. Mrkonic, Jr. sold 414 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $2,541.85, for a total transaction of $1,052,325.90. Following the transaction, the director now owns 3,470 shares in the company, valued at $8,820,219.50. The disclosure for this sale can be found here. Insiders have sold 19,997 shares of company stock valued at $61,108,338 in the last 90 days. Company insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AZO shares. StockNews.com upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research note on Thursday. Evercore ISI raised their price objective on shares of AutoZone from $3,375.00 to $3,400.00 and gave the stock an "outperform" rating in a report on Tuesday, March 26th. Barclays raised their price objective on shares of AutoZone from $2,779.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Wedbush raised their price objective on shares of AutoZone from $2,950.00 to $3,400.00 and gave the stock an "outperform" rating in a report on Wednesday, February 28th. Finally, Truist Financial raised their price objective on shares of AutoZone from $3,363.00 to $3,523.00 and gave the stock a "buy" rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $3,089.61.

AutoZone Trading Up 0.6 %

AZO traded up $19.90 during trading hours on Friday, hitting $3,104.94. The company's stock had a trading volume of 84,663 shares, compared to its average volume of 132,935. The business's 50-day moving average price is $2,966.62 and its 200-day moving average price is $2,729.96. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,256.37. The stock has a market cap of $53.72 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.64 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating analysts' consensus estimates of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $4.32 billion. During the same quarter in the previous year, the business posted $24.64 earnings per share. The business's revenue was up 4.6% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 151.33 earnings per share for the current year.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.