Securian Asset Management Inc. Reduces Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Securian Asset Management Inc. reduced its holdings in AutoZone, Inc. (NYSE:AZO) by 3.7% during the 4th quarter, Holdings Channel reports. The fund owned 910 shares of the company’s stock after selling 35 shares during the period. Securian Asset Management Inc.’s holdings in AutoZone were worth $2,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in AZO. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone in the 3rd quarter valued at $47,000. Crews Bank & Trust purchased a new stake in shares of AutoZone in the 4th quarter valued at $61,000. McIlrath & Eck LLC boosted its holdings in shares of AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after acquiring an additional 4 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of AutoZone in the 3rd quarter valued at $66,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of AutoZone in the 4th quarter valued at $67,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Down 0.5 %

Shares of NYSE AZO opened at $3,545.76 on Thursday. The firm has a 50-day simple moving average of $3,390.02 and a 200-day simple moving average of $3,238.89. The stock has a market capitalization of $59.50 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,704.43.

AutoZone (NYSE:AZO) last issued 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%. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Activity

In related news, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 50 shares of the company’s stock, valued at approximately $177,500. This represents a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Dennis W. Leriche sold 1,575 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 417 shares of the company’s stock, valued at $1,501,200. This represents a 79.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AZO shares. Citigroup increased their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Bank of America increased their price target on shares of AutoZone from $3,600.00 to $3,700.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Truist Financial increased their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Roth Capital set a $3,763.00 price target on shares of AutoZone in a report on Wednesday, March 5th. Finally, BMO Capital Markets increased their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,651.91.

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.