AutoZone, Inc. (NYSE:AZO) Shares Sold by Ignite Planners LLC

Ignite Planners LLC decreased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109 shares of the company’s stock after selling 16 shares during the quarter. Ignite Planners LLC’s holdings in AutoZone were worth $356,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AZO. International Assets Investment Management LLC increased its stake in shares of AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after acquiring an additional 993,139 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after purchasing an additional 60,483 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in AutoZone by 319.0% during the second quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock valued at $107,375,000 after purchasing an additional 27,580 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in AutoZone during the third quarter valued at $85,127,000. Finally, Erste Asset Management GmbH purchased a new position in AutoZone during the third quarter valued at $63,379,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AZO stock opened at $3,224.60 on Wednesday. The stock has a market capitalization of $54.12 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. The company has a 50 day moving average price of $3,219.74 and a 200 day moving average price of $3,129.05. AutoZone, Inc. has a fifty-two week low of $2,575.00 and a fifty-two week high of $3,416.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $32.55 EPS. On average, research analysts forecast that AutoZone, Inc. will post 154.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AZO. Argus raised their price target on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group downgraded shares of AutoZone from a “buy” rating to a “sell” rating and decreased their price target for the stock from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Truist Financial raised their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Guggenheim raised their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

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.