Artemis Investment Management LLP Has $30.55 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Artemis Investment Management LLP lowered its position in AutoZone, Inc. (NYSE:AZO) by 0.0% in the first quarter, HoldingsChannel.com reports. The fund owned 9,698 shares of the company’s stock after selling 4 shares during the quarter. Artemis Investment Management LLP’s holdings in AutoZone were worth $30,549,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AZO. International Assets Investment Management LLC raised its stake in shares of AutoZone by 232,194.6% in the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after acquiring an additional 731,413 shares during the last quarter. Norges Bank bought a new position in AutoZone in the 4th quarter worth approximately $678,350,000. Wellington Management Group LLP raised its position in AutoZone by 111.4% in the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after purchasing an additional 176,623 shares during the last quarter. Parnassus Investments LLC raised its position in AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after purchasing an additional 58,989 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in AutoZone by 42.6% in the 4th quarter. Nordea Investment Management AB now owns 195,084 shares of the company’s stock worth $501,512,000 after purchasing an additional 58,234 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In other AutoZone news, VP Jenna M. Bedsole acquired 36 shares of AutoZone stock in a transaction dated Thursday, May 23rd. The stock was bought at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the purchase, the vice president now directly owns 36 shares in the company, valued at approximately $99,255.60. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

AutoZone Stock Performance

NYSE AZO traded up $8.70 on Friday, reaching $2,964.10. The company had a trading volume of 159,631 shares, compared to its average volume of 153,745. The firm has a market capitalization of $50.63 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The company’s fifty day moving average is $2,895.17 and its 200-day moving average is $2,860.20.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $34.12 EPS. On average, research analysts forecast that AutoZone, Inc. will post 151.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Guggenheim boosted their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial dropped their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Mizuho dropped their target price on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Barclays dropped their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Finally, Citigroup dropped their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $3,112.88.

About AutoZone

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.