Arizona State Retirement System Sells 7 Shares of AutoZone, Inc. (NYSE:AZO)

Arizona State Retirement System reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,892 shares of the company’s stock after selling 7 shares during the quarter. Arizona State Retirement System’s holdings in AutoZone were worth $15,664,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AZO. Capital Performance Advisors LLP bought a new stake in shares of AutoZone during the third quarter valued at approximately $36,000. Darwin Wealth Management LLC acquired a new position in AutoZone in the third quarter valued at approximately $47,000. Crews Bank & Trust acquired a new position in AutoZone in the fourth quarter valued at approximately $61,000. McIlrath & Eck LLC lifted its holdings in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after buying an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in AutoZone in the third quarter valued at approximately $66,000. 92.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AZO shares. Mizuho increased their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial increased their price objective on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup increased their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Evercore ISI increased their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3,646.62.

AutoZone Stock Up 2.8 %

Shares of NYSE:AZO opened at $3,569.49 on Thursday. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,570.50. The company’s fifty day simple moving average is $3,351.07 and its 200 day simple moving average is $3,223.79. The firm has a market cap of $59.90 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone Company 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.