AutoZone, Inc. (NYSE:AZO) Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 19,900 shares of the company’s stock after selling 220 shares during the quarter. AutoZone makes up approximately 0.8% of Erste Asset Management GmbH’s holdings, making the stock its 29th biggest holding. Erste Asset Management GmbH’s holdings in AutoZone were worth $63,439,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in AZO. Axxcess Wealth Management LLC grew its holdings in shares of AutoZone by 1.5% in the third quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock valued at $841,000 after purchasing an additional 4 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of AutoZone in the third quarter valued at approximately $66,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of AutoZone by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,415 shares of the company’s stock valued at $130,459,000 after purchasing an additional 387 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of AutoZone in the third quarter valued at approximately $239,000. Finally, Aptus Capital Advisors LLC grew its holdings in shares of AutoZone by 2.8% in the third quarter. Aptus Capital Advisors LLC now owns 260 shares of the company’s stock valued at $819,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,545.76 on Thursday. The firm’s fifty day simple moving average is $3,390.02 and its 200-day simple moving average is $3,238.89. The stock has a market capitalization of $59.50 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,704.43.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, March 4th. The company reported $28.29 EPS 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 analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Roth Mkm lifted their price objective on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Truist Financial lifted their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. DA Davidson lifted their price target on shares of AutoZone from $3,350.00 to $3,500.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Guggenheim lifted their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Barclays lifted their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,651.91.

Insider Activity

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $177,500. The trade was a 76.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Dennis W. Leriche sold 1,575 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the transaction, the vice president now directly owns 417 shares in the company, valued at $1,501,200. This represents a 79.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

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.