Chevy Chase Trust Holdings LLC Reduces Holdings in AutoZone, Inc. (NYSE:AZO)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,066 shares of the company’s stock after selling 291 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in AutoZone were worth $32,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of AutoZone by 354,692.5% during the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after purchasing an additional 993,139 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone during the 4th quarter worth about $471,629,000. The Manufacturers Life Insurance Company boosted its stake in shares of AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Canoe Financial LP boosted its stake in shares of AutoZone by 542.8% during the 4th quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after purchasing an additional 52,753 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of AutoZone in the third quarter worth approximately $85,127,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Down 0.2 %

AZO opened at $3,461.94 on Friday. The firm has a market capitalization of $58.09 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.92 and a beta of 0.70. The firm’s 50 day moving average is $3,312.82 and its 200-day moving average is $3,194.34. AutoZone, Inc. has a 52-week low of $2,680.96 and a 52-week high of $3,484.42.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (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 firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $32.55 EPS. Equities analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on AZO. BMO Capital Markets began coverage on shares of AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price on the stock. Truist Financial raised their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their target price 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. Mizuho raised their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Barclays raised their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have 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 $3,429.84.

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.