Retirement Systems of Alabama Trims Stake in AutoZone, Inc. (NYSE:AZO)

Retirement Systems of Alabama decreased its position in AutoZone, Inc. (NYSE:AZO) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,660 shares of the company’s stock after selling 78 shares during the quarter. Retirement Systems of Alabama’s holdings in AutoZone were worth $11,719,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Trust Point Inc. boosted its stake in AutoZone by 17.1% in the 4th quarter. Trust Point Inc. now owns 89 shares of the company’s stock worth $285,000 after purchasing an additional 13 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of AutoZone by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 29,560 shares of the company’s stock worth $94,651,000 after acquiring an additional 469 shares during the period. Western Pacific Wealth Management LP increased its position in shares of AutoZone by 38.0% during the 4th quarter. Western Pacific Wealth Management LP now owns 127 shares of the company’s stock valued at $407,000 after purchasing an additional 35 shares during the last quarter. Greenleaf Trust increased its holdings in AutoZone by 1.1% during the fourth quarter. Greenleaf Trust now owns 810 shares of the company’s stock valued at $2,594,000 after buying an additional 9 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in AutoZone by 16.3% in the 4th quarter. Spire Wealth Management now owns 100 shares of the company’s stock worth $320,000 after purchasing an additional 14 shares during the period. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AZO. Barclays increased their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. The Goldman Sachs Group downgraded shares of AutoZone from a “buy” rating to a “sell” rating and decreased their price objective for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Truist Financial upped their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company raised their price target on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, TD Cowen upped their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Stock Down 1.3 %

Shares of NYSE:AZO opened at $3,420.42 on Friday. The firm has a fifty day simple moving average of $3,287.30 and a two-hundred day simple moving average of $3,178.73. The stock has a market capitalization of $57.40 billion, a P/E ratio of 22.85, a PEG ratio of 1.85 and a beta of 0.70. AutoZone, Inc. has a 52 week low of $2,672.31 and a 52 week high of $3,484.42.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). The company had revenue of $4.28 billion for 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 company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $32.55 earnings per share. On average, analysts expect that AutoZone, Inc. will post 152.94 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.