abrdn plc Sells 515 Shares of AutoZone, Inc. (NYSE:AZO)

abrdn plc decreased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,908 shares of the company’s stock after selling 515 shares during the period. abrdn plc’s holdings in AutoZone were worth $18,772,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZO. Capital Performance Advisors LLP acquired a new position in AutoZone in the 3rd quarter worth $36,000. Carolina Wealth Advisors LLC bought a new stake in shares of AutoZone in the third quarter valued at about $47,000. Darwin Wealth Management LLC bought a new position in shares of AutoZone during the third quarter worth about $47,000. Crews Bank & Trust acquired a new stake in AutoZone in the 4th quarter valued at approximately $61,000. Finally, McIlrath & Eck LLC lifted its stake in 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 in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Down 0.2 %

NYSE:AZO opened at $3,466.41 on Friday. The stock has a 50 day simple moving average of $3,281.77 and a 200 day simple moving average of $3,176.72. The stock has a market cap of $58.17 billion, a P/E ratio of 23.16, a PEG ratio of 1.85 and a beta of 0.70. AutoZone, Inc. has a 1-year low of $2,672.31 and a 1-year high of $3,484.42.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the firm posted $32.55 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays raised 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. TD Cowen lifted their price target on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group cut AutoZone from a “buy” rating to a “sell” rating and decreased their price objective for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Wells Fargo & Company upped their target price on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AutoZone currently has a consensus 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.