Nisa Investment Advisors LLC Sells 1,462 Shares of AutoZone, Inc. $AZO

Nisa Investment Advisors LLC reduced its position in AutoZone, Inc. (NYSE:AZO) by 22.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,913 shares of the company’s stock after selling 1,462 shares during the period. Nisa Investment Advisors LLC’s holdings in AutoZone were worth $16,662,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AZO. L2 Asset Management LLC boosted its stake in AutoZone by 4.2% in the second quarter. L2 Asset Management LLC now owns 75 shares of the company’s stock valued at $278,000 after acquiring an additional 3 shares in the last quarter. AssuredPartners Investment Advisors LLC increased its position in shares of AutoZone by 2.5% during the third quarter. AssuredPartners Investment Advisors LLC now owns 125 shares of the company’s stock worth $536,000 after purchasing an additional 3 shares in the last quarter. Obermeyer Wealth Partners lifted its holdings in shares of AutoZone by 4.7% during the 3rd quarter. Obermeyer Wealth Partners now owns 67 shares of the company’s stock valued at $287,000 after purchasing an additional 3 shares during the last quarter. Covestor Ltd lifted its holdings in shares of AutoZone by 5.5% during the 3rd quarter. Covestor Ltd now owns 58 shares of the company’s stock valued at $250,000 after purchasing an additional 3 shares during the last quarter. Finally, SYM FINANCIAL Corp boosted its position in shares of AutoZone by 3.6% in the 3rd quarter. SYM FINANCIAL Corp now owns 86 shares of the company’s stock worth $369,000 after purchasing an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

AZO stock opened at $3,428.81 on Thursday. The firm’s fifty day simple moving average is $3,630.74 and its 200-day simple moving average is $3,723.86. The company has a market capitalization of $56.51 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 1.73 and a beta of 0.41. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $27.59 by $0.04. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $28.29 earnings per share. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insiders Place Their Bets

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the completion of the transaction, the director owned 3,564 shares in the company, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the transaction, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,447 shares of company stock valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AZO shares. Barclays boosted their target price on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Raymond James Financial lowered their price target on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a report on Wednesday, December 10th. Roth Mkm dropped their price target on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Truist Financial cut their price objective on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $4,312.13.

AutoZone Company 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.