Oregon Public Employees Retirement Fund Cuts Stock Position in AutoZone, Inc. (NYSE:AZO)

Oregon Public Employees Retirement Fund lessened its stake in AutoZone, Inc. (NYSE:AZO) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,455 shares of the company’s stock after selling 31 shares during the period. Oregon Public Employees Retirement Fund’s holdings in AutoZone were worth $4,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in AutoZone by 18.1% in the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after purchasing an additional 6,898 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after acquiring an additional 60,483 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of AutoZone by 29.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock worth $111,455,000 after acquiring an additional 7,922 shares during the last quarter. Silverleafe Capital Partners LLC grew its stake in shares of AutoZone by 1.0% during the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after acquiring an additional 26 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its stake in shares of AutoZone by 592.0% during the third quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after acquiring an additional 7,879 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 1.1 %

Shares of NYSE:AZO opened at $3,388.21 on Thursday. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,484.42. The company has a market capitalization of $56.85 billion, a PE ratio of 22.64, a PEG ratio of 1.86 and a beta of 0.70. The business has a 50 day moving average of $3,327.45 and a two-hundred day moving average of $3,212.80.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the firm posted $32.55 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AZO shares. Evercore ISI boosted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. BMO Capital Markets started coverage on AutoZone in a research note on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target on the stock. Argus boosted their price target on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company boosted their price target on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Truist Financial boosted their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

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.