Monument Capital Management Cuts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Monument Capital Management lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 6.2% during the 4th quarter, Holdings Channel reports. The firm owned 136 shares of the company’s stock after selling 9 shares during the quarter. Monument Capital Management’s holdings in AutoZone were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. International Assets Investment Management LLC raised its position 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 acquiring an additional 731,413 shares during the period. Wellington Management Group LLP grew its stake in shares of AutoZone by 111.4% in the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after buying an additional 176,623 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in AutoZone by 341.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 159,285 shares of the company’s stock worth $404,582,000 after acquiring an additional 123,208 shares in the last quarter. Nordea Investment Management AB lifted its stake in AutoZone by 42.6% during the 4th quarter. Nordea Investment Management AB now owns 195,084 shares of the company’s stock worth $501,512,000 after acquiring an additional 58,234 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in 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 acquiring an additional 34,092 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the sale, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the sale, the vice president now directly owns 2,921 shares in the company, valued at approximately $8,756,456.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The disclosure for this sale can be found here. Insiders have sold 15,990 shares of company stock worth $50,335,193 in the last three months. 2.50% of the stock is owned by insiders.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $2,963.27 on Tuesday. The company has a market cap of $51.32 billion, a P/E ratio of 20.87, a PEG ratio of 1.48 and a beta of 0.70. AutoZone, Inc. has a one year low of $2,277.88 and a one year high of $3,256.37. The business’s 50-day simple moving average is $3,010.24 and its 200 day simple moving average is $2,764.30.

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

Wall Street Analyst Weigh In

AZO has been the topic of several analyst reports. Truist Financial raised their target price 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. UBS Group raised their target price on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Mizuho began coverage on AutoZone in a report on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 target price for the company. Wedbush increased their price target on shares of AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Finally, DA Davidson increased their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $3,086.61.

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.