AutoZone, Inc. $AZO Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its stake in AutoZone, Inc. (NYSE:AZO) by 22.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,732 shares of the company’s stock after selling 803 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AutoZone were worth $9,266,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in AutoZone by 6.6% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock worth $21,315,000 after buying an additional 306 shares during the period. Numerai GP LLC boosted its position in AutoZone by 1,199.3% in the 3rd quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after buying an additional 1,619 shares during the period. Caprock Group LLC acquired a new position in shares of AutoZone in the third quarter worth $4,049,000. Jupiter Asset Management Ltd. purchased a new stake in shares of AutoZone during the fourth quarter worth $1,808,000. Finally, Savant Capital LLC increased its position in shares of AutoZone by 21.3% during the third quarter. Savant Capital LLC now owns 1,015 shares of the company’s stock worth $4,355,000 after acquiring an additional 178 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Up 1.1%

Shares of NYSE:AZO opened at $3,116.41 on Friday. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11. The company’s 50 day moving average is $3,393.83 and its two-hundred day moving average is $3,540.32. The company has a market cap of $51.36 billion, a PE ratio of 21.43, a P/E/G ratio of 1.58 and a beta of 0.35.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 77.83%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the firm posted $35.36 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that AutoZone, Inc. will post 150.18 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. BNP Paribas Exane cut their price target on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. The Goldman Sachs Group cut their price target on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Truist Financial set a $3,700.00 price target on AutoZone in a report on Wednesday, May 27th. Finally, Citigroup cut their price target on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued 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 target price of $4,040.87.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were 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 approximately $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brian Hannasch acquired 165 shares of the company’s stock in a transaction on Friday, May 29th. The stock was purchased 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 owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.60% of the company’s stock.

AutoZone Profile

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.