Sawgrass Asset Management LLC Sells 244 Shares of AutoZone, Inc. (NYSE:AZO)

Sawgrass Asset Management LLC cut its stake in AutoZone, Inc. (NYSE:AZO) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,078 shares of the company’s stock after selling 244 shares during the quarter. AutoZone accounts for about 1.4% of Sawgrass Asset Management LLC’s portfolio, making the stock its 24th biggest position. Sawgrass Asset Management LLC’s holdings in AutoZone were worth $13,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hemington Wealth Management increased its position in shares of AutoZone by 25.0% during the fourth quarter. Hemington Wealth Management now owns 30 shares of the company’s stock valued at $96,000 after acquiring an additional 6 shares during the last quarter. Van ECK Associates Corp increased its position in AutoZone by 11.4% in the fourth quarter. Van ECK Associates Corp now owns 2,638 shares of the company’s stock worth $8,447,000 after buying an additional 270 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its position in AutoZone by 6.3% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 135 shares of the company’s stock worth $432,000 after buying an additional 8 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in AutoZone by 3.2% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 194 shares of the company’s stock worth $621,000 after buying an additional 6 shares during the last quarter. Finally, Great Lakes Retirement Inc. increased its position in AutoZone by 6.8% in the fourth quarter. Great Lakes Retirement Inc. now owns 441 shares of the company’s stock worth $1,414,000 after buying an additional 28 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AZO has been the subject of a number of analyst reports. TD Cowen raised their price target on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Mizuho lifted their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial lifted their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Evercore ISI raised their price target on AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price target on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Stock Down 0.3 %

Shares of AZO opened at $3,435.93 on Thursday. The business’s 50 day moving average price is $3,302.29 and its 200-day moving average price is $3,190.70. AutoZone, Inc. has a 52 week low of $2,680.96 and a 52 week high of $3,484.42. The stock has a market cap of $57.65 billion, a P/E ratio of 22.96, a P/E/G ratio of 1.92 and a beta of 0.70.

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

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.