Clearbridge Investments LLC Has $17.79 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Clearbridge Investments LLC cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,000 shares of the company’s stock after selling 147 shares during the quarter. Clearbridge Investments LLC’s holdings in AutoZone were worth $17,785,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Boston Partners raised its stake in AutoZone by 1.7% during the 1st quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after purchasing an additional 6,226 shares during the last quarter. PineStone Asset Management Inc. raised its position in shares of AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of AutoZone by 11.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock valued at $550,296,000 after buying an additional 22,507 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of AutoZone by 4.1% in the first quarter. Nordea Investment Management AB now owns 203,072 shares of the company’s stock valued at $643,641,000 after buying an additional 7,988 shares during the period. Finally, Captrust Financial Advisors grew its position in AutoZone by 564.2% during the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after buying an additional 129,193 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,029.39 on Friday. The company has a market capitalization of $51.75 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The business has a 50-day moving average of $3,132.67 and a two-hundred day moving average of $3,012.32. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. AutoZone’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $46.46 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 151.08 EPS for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AZO has been the topic of several recent research reports. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a report on Tuesday. Oppenheimer reissued a “market perform” rating and issued a $2,600.00 price target on shares of AutoZone in a report on Wednesday, June 26th. DA Davidson restated a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a research note on Monday, September 30th. Truist Financial decreased their target price on shares of AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Morgan Stanley increased their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $3,169.38.

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.