Assetmark Inc. Reduces Holdings in AutoZone, Inc. (NYSE:AZO)

Assetmark Inc. decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 8.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,562 shares of the company’s stock after selling 135 shares during the period. Assetmark Inc.’s holdings in AutoZone were worth $5,000,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AZO. Capital Performance Advisors LLP purchased a new stake in AutoZone in the third quarter valued at approximately $36,000. Darwin Wealth Management LLC purchased a new stake in AutoZone in the third quarter valued at approximately $47,000. Crews Bank & Trust purchased a new stake in AutoZone in the fourth quarter valued at approximately $61,000. McIlrath & Eck LLC boosted its position in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after buying an additional 4 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in AutoZone in the third quarter valued at approximately $66,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now directly owns 50 shares of the company’s stock, valued at $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of recent research reports. Guggenheim upped their target price on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial upped their target price on AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a research report on Wednesday. Roth Mkm boosted their price target on AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup boosted their price target on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Bank of America boosted their price target on AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $3,646.62.

AutoZone Stock Performance

Shares of AZO stock opened at $3,620.28 on Friday. The stock’s fifty day moving average is $3,365.96 and its two-hundred day moving average is $3,229.85. The firm has a market capitalization of $60.76 billion, a P/E ratio of 24.19, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,636.96.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share 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.