State of New Jersey Common Pension Fund D Sells 69 Shares of AutoZone, Inc. (NYSE:AZO)

State of New Jersey Common Pension Fund D reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,186 shares of the company’s stock after selling 69 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of AutoZone worth $26,337,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in AutoZone by 232,194.6% during the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after buying an additional 731,413 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of AutoZone by 111.4% during the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after purchasing an additional 176,623 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in AutoZone by 341.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 159,285 shares of the company’s stock worth $404,582,000 after purchasing an additional 123,208 shares during the last quarter. Nordea Investment Management AB boosted its holdings in AutoZone by 42.6% during the fourth quarter. Nordea Investment Management AB now owns 195,084 shares of the company’s stock worth $501,512,000 after purchasing an additional 58,234 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of AutoZone by 196.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 51,460 shares of the company’s stock worth $133,055,000 after purchasing an additional 34,092 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the transaction, the vice president now owns 2,921 shares in the company, valued at $8,756,456.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the transaction, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the vice president now directly owns 910 shares in the company, valued at $2,912,000. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock valued at $50,335,193 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on AZO. Morgan Stanley lifted their target price on AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Barclays upped their price target on AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Wedbush raised their target price on shares of AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Truist Financial raised their price target on shares of AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, UBS Group upped their price target on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $3,086.61.

AutoZone Trading Down 1.3 %

NYSE AZO traded down $40.11 during trading hours on Thursday, reaching $2,948.40. 236,075 shares of the company’s stock were exchanged, compared to its average volume of 155,333. The firm has a fifty day moving average of $3,020.17 and a 200-day moving average of $2,768.74. AutoZone, Inc. has a one year low of $2,277.88 and a one year high of $3,256.37. The stock has a market cap of $51.07 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.47 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, topping the consensus estimate of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period last year, the business posted $24.64 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts forecast that AutoZone, Inc. will post 152.4 EPS for the current year.

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.