Pinnacle Financial Partners Inc Sells 3 Shares of AutoZone, Inc. (NYSE:AZO)

Pinnacle Financial Partners Inc cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 0.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,247 shares of the company’s stock after selling 3 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in AutoZone were worth $16,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Strategic Financial Concepts LLC bought a new stake in shares of AutoZone in the 4th quarter valued at $471,629,000. The Manufacturers Life Insurance Company boosted its stake in shares of AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Canoe Financial LP boosted its stake in shares of AutoZone by 542.8% in the 4th quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock valued at $200,032,000 after purchasing an additional 52,753 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of AutoZone by 35.6% in the 4th quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock valued at $522,211,000 after purchasing an additional 42,776 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of AutoZone in the 3rd quarter valued at $85,127,000. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Performance

AZO stock opened at $3,366.15 on Friday. AutoZone, Inc. has a one year low of $2,708.09 and a one year high of $3,484.42. The company has a market capitalization of $56.49 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.88 and a beta of 0.70. The company’s 50 day moving average price is $3,321.62 and its two-hundred day moving average price is $3,206.32.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) 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 firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the business posted $32.55 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AZO shares. Truist Financial boosted their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Evercore ISI boosted their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. BMO Capital Markets initiated coverage on shares of AutoZone in a report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective on the stock. Argus upped their price objective on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, Barclays upped their target price 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

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.