Maj Invest Holding A S Cuts Position in AutoZone, Inc. (NYSE:AZO)

Maj Invest Holding A S reduced its stake in AutoZone, Inc. (NYSE:AZO) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,971 shares of the company’s stock after selling 8,334 shares during the period. AutoZone accounts for 5.9% of Maj Invest Holding A S’s portfolio, making the stock its 5th largest position. Maj Invest Holding A S owned approximately 0.33% of AutoZone worth $179,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC grew its position in shares of AutoZone by 354,692.5% in the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after buying an additional 993,139 shares during the period. The Manufacturers Life Insurance Company grew its holdings in AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares during the period. Canoe Financial LP increased its stake in shares of AutoZone by 542.8% during the fourth quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock valued at $200,032,000 after purchasing an additional 52,753 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in shares of AutoZone during the third quarter valued at approximately $85,127,000. Finally, Erste Asset Management GmbH bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $63,379,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AZO. Roth Capital raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. TD Cowen raised their price target on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. Mizuho upped their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial raised their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Roth Mkm reiterated a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Price Performance

NYSE:AZO opened at $3,328.28 on Monday. The firm has a market capitalization of $55.85 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 1.84 and a beta of 0.71. The business has a fifty day moving average price of $3,238.73 and a 200-day moving average price of $3,151.29. AutoZone, Inc. has a one year low of $2,672.31 and a one year high of $3,416.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $32.55 EPS. On average, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal 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.