Allspring Global Investments Holdings LLC Has $64.26 Million Position in AutoZone, Inc. (NYSE:AZO)

Allspring Global Investments Holdings LLC reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 13.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,390 shares of the company’s stock after selling 3,257 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.12% of AutoZone worth $64,262,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in AutoZone during the 1st quarter valued at $32,000. Riverview Trust Co acquired a new stake in AutoZone during the 1st quarter valued at $41,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AutoZone during the 4th quarter valued at $54,000. Private Wealth Management Group LLC acquired a new stake in AutoZone during the 4th quarter valued at $54,000. Finally, Quarry LP acquired a new stake in AutoZone during the 4th quarter valued at $70,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

AZO stock opened at $2,867.32 on Wednesday. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The company has a 50-day moving average of $2,891.70 and a two-hundred day moving average of $2,866.94. The stock has a market capitalization of $48.97 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the company earned $34.12 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts expect that AutoZone, Inc. will post 151.57 EPS for the current fiscal year.

Insider Activity at AutoZone

In related news, VP Jenna M. Bedsole bought 36 shares of AutoZone stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the purchase, the vice president now owns 36 shares in the company, valued at $99,255.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wedbush dropped their price target on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Morgan Stanley dropped their price target on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 22nd. Oppenheimer reaffirmed a “market perform” rating and issued a $2,600.00 price target on shares of AutoZone in a research note on Wednesday, June 26th. Barclays dropped their price target on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, Mizuho dropped their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Profile

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.