AutoZone, Inc. $AZO Shares Sold by Boston Partners

Boston Partners cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 14.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 237,024 shares of the company’s stock after selling 38,924 shares during the period. AutoZone makes up about 0.8% of Boston Partners’ investment portfolio, making the stock its 19th biggest position. Boston Partners’ holdings in AutoZone were worth $804,495,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AZO. Norges Bank acquired a new stake in shares of AutoZone in the fourth quarter valued at about $939,205,000. Northwestern Mutual Wealth Management Co. boosted its stake in AutoZone by 387.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock worth $263,832,000 after buying an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in AutoZone by 39.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after buying an additional 50,071 shares during the period. AQR Capital Management LLC boosted its stake in AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after buying an additional 45,212 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in AutoZone by 401.2% during the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock worth $222,247,000 after buying an additional 41,467 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AZO has been the subject of several recent research reports. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, May 27th. Robert W. Baird cut their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Guggenheim cut their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Jefferies Financial Group cut their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, TD Cowen reiterated a “buy” rating and issued a $3,700.00 price objective on shares of AutoZone in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction on Friday, May 29th. The stock was bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Up 0.9%

NYSE AZO opened at $3,110.16 on Friday. The stock has a market cap of $51.26 billion, a PE ratio of 21.38, a P/E/G ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11. The business has a 50 day moving average price of $3,367.14 and a two-hundred day moving average price of $3,514.38.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $35.36 EPS. Sell-side analysts anticipate that AutoZone, Inc. will post 150.45 EPS for the current fiscal year.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.