Allspring Global Investments Holdings LLC Has $24.86 Million Position in AutoZone, Inc. (NYSE:AZO)

Allspring Global Investments Holdings LLC decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,649 shares of the company’s stock after selling 384 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AutoZone were worth $24,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone in the 3rd quarter valued at $36,000. Carolina Wealth Advisors LLC acquired a new stake in AutoZone in the third quarter valued at about $47,000. Darwin Wealth Management LLC bought a new position in AutoZone in the third quarter valued at about $47,000. Crews Bank & Trust acquired a new position in AutoZone during the fourth quarter worth about $61,000. Finally, McIlrath & Eck LLC lifted its holdings in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after acquiring an additional 4 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

NYSE AZO opened at $3,461.94 on Friday. The stock has a market capitalization of $58.09 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.92 and a beta of 0.70. The business has a 50 day simple moving average of $3,315.89 and a 200 day simple moving average of $3,197.01. AutoZone, Inc. has a one year low of $2,680.96 and a one year high of $3,484.42.

AutoZone (NYSE:AZO) last released 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 during the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $32.55 EPS. Equities analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

AZO has been the topic of several research reports. Mizuho lifted their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Barclays upped their price target 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. Wells Fargo & Company raised their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Argus upped their target price on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, Truist Financial lifted their price target on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average target price of $3,429.84.

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.