Resona Asset Management Co. Ltd. Lowers Stock Holdings in AutoZone, Inc. $AZO

Resona Asset Management Co. Ltd. cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,794 shares of the company’s stock after selling 211 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in AutoZone were worth $23,065,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Covestor Ltd lifted its holdings in AutoZone by 5.5% in the third quarter. Covestor Ltd now owns 58 shares of the company’s stock valued at $250,000 after acquiring an additional 3 shares during the period. SYM FINANCIAL Corp lifted its holdings in AutoZone by 3.6% in the third quarter. SYM FINANCIAL Corp now owns 86 shares of the company’s stock valued at $369,000 after acquiring an additional 3 shares during the period. Camden National Bank lifted its holdings in AutoZone by 3.6% in the third quarter. Camden National Bank now owns 86 shares of the company’s stock valued at $369,000 after acquiring an additional 3 shares during the period. Crestwood Advisors Group LLC lifted its holdings in AutoZone by 1.7% in the third quarter. Crestwood Advisors Group LLC now owns 184 shares of the company’s stock valued at $791,000 after acquiring an additional 3 shares during the period. Finally, Assetmark Inc. lifted its holdings in AutoZone by 1.4% in the third quarter. Assetmark Inc. now owns 212 shares of the company’s stock valued at $908,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AutoZone

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 completion of the sale, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,346.35 on Wednesday. The stock has a fifty day moving average of $3,478.90 and a two-hundred day moving average of $3,590.51. The company has a market capitalization of $55.15 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.43. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $28.29 EPS. As a group, equities research analysts forecast that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AZO. JPMorgan Chase & Co. lifted their price target 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. DA Davidson set a $4,300.00 price target on shares of AutoZone in a research report on Thursday, March 5th. Evercore lifted their price target on AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. BMO Capital Markets cut their price target on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Finally, Roth Mkm cut their price target on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.