State of New Jersey Common Pension Fund D Trims Stock Holdings in AutoZone, Inc. (NYSE:AZO)

State of New Jersey Common Pension Fund D lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,209 shares of the company’s stock after selling 118 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AutoZone were worth $19,881,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AZO. IVC Wealth Advisors LLC boosted its position in shares of AutoZone by 4.4% during the 3rd quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock worth $299,000 after purchasing an additional 4 shares during the period. Allworth Financial LP boosted its stake in shares of AutoZone by 5.0% in the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock valued at $265,000 after purchasing an additional 4 shares during the period. Axxcess Wealth Management LLC grew its stake in shares of AutoZone by 1.5% in the third quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock worth $841,000 after acquiring an additional 4 shares in the last quarter. Moors & Cabot Inc. grew its stake in AutoZone by 4.2% during the 3rd quarter. Moors & Cabot Inc. now owns 99 shares of the company’s stock worth $312,000 after purchasing an additional 4 shares in the last quarter. Finally, McIlrath & Eck LLC increased its stake in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZO has been the topic of a number of analyst reports. Guggenheim raised their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Truist Financial upped their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Barclays raised their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Citigroup increased their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,461.94 on Tuesday. AutoZone, Inc. has a one year low of $2,680.96 and a one year high of $3,484.42. The company has a market cap of $58.09 billion, a P/E ratio of 23.13, a PEG ratio of 1.92 and a beta of 0.70. The firm has a fifty day moving average of $3,315.89 and a two-hundred day moving average of $3,198.06.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share 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 business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the firm posted $32.55 EPS. AutoZone’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone Company 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.