AutoZone, Inc. (NYSE:AZO) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its stake in AutoZone, Inc. (NYSE:AZO) by 7.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 302 shares of the company’s stock after selling 24 shares during the quarter. QRG Capital Management Inc.’s holdings in AutoZone were worth $967,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in AutoZone in the third quarter worth approximately $36,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone in the 3rd quarter valued at $47,000. Crews Bank & Trust acquired a new stake in shares of AutoZone in the 4th quarter valued at $61,000. McIlrath & Eck LLC grew its stake in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of AutoZone during the third quarter worth $66,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AZO shares. Evercore ISI upped their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial boosted their target price on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Mizuho increased their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Guggenheim boosted 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. Finally, BMO Capital Markets started coverage on shares of AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,442.61.

AutoZone Trading Down 0.6 %

AutoZone stock opened at $3,471.00 on Tuesday. The stock has a 50 day moving average of $3,341.31 and a two-hundred day moving average of $3,219.44. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,519.00. The stock has a market capitalization of $58.25 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.86 and a beta of 0.70.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the business earned $32.55 earnings per share. AutoZone’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current 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.