AutoZone, Inc. $AZO Stock Holdings Lowered by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in AutoZone, Inc. (NYSE:AZO) by 20.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,079 shares of the company’s stock after selling 1,071 shares during the period. Illinois Municipal Retirement Fund’s holdings in AutoZone were worth $11,544,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. purchased a new stake in AutoZone in the 2nd quarter valued at about $29,000. Asset Dedication LLC grew its stake in AutoZone by 150.0% in the 1st quarter. Asset Dedication LLC now owns 10 shares of the company’s stock worth $34,000 after acquiring an additional 6 shares in the last quarter. Tacita Capital Inc purchased a new position in shares of AutoZone during the second quarter worth approximately $32,000. Burkett Financial Services LLC purchased a new position in shares of AutoZone during the third quarter worth approximately $31,000. Finally, Heritage Family Offices LLP purchased a new position in shares of AutoZone during the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

NYSE AZO opened at $3,234.93 on Thursday. The company has a market capitalization of $52.06 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.37. The company’s 50-day simple moving average is $3,008.24 and its two-hundred day simple moving average is $3,248.38. AutoZone, Inc. has a one year low of $2,730.65 and a one year high of $3,996.25.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The firm had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the prior year, the company earned $48.71 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Equities analysts expect that AutoZone, Inc. will post 170.30 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Roth Capital lowered their price target on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Bank of America started coverage on AutoZone in a report on Monday, October 26th. They set a “buy” rating and a $3,800.00 price objective on the stock. Guggenheim reduced their price objective on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Oppenheimer set a $3,400.00 target price on AutoZone in a research report on Wednesday, September 23rd. Finally, Sanford C. Bernstein began coverage on AutoZone in a report on Tuesday, September 29th. They issued an “outperform” rating and a $3,698.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,674.36.

Insider Transactions at AutoZone

In related news, CFO Jamere Jackson sold 6,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total value of $22,905,999.00. Following the completion of the transaction, the chief financial officer owned 496 shares of the company’s stock, valued at $1,646,576.16. The trade was a 93.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

AutoZone Company Profile

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores. Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.