New York Life Investment Management LLC Sells 261 Shares of AutoZone, Inc. (NYSE:AZO)

New York Life Investment Management LLC lessened its stake in AutoZone, Inc. (NYSE:AZO) by 10.3% in the fourth quarter, HoldingsChannel reports. The fund owned 2,268 shares of the company’s stock after selling 261 shares during the period. New York Life Investment Management LLC’s holdings in AutoZone were worth $7,262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in AutoZone during the 3rd quarter valued at approximately $36,000. Darwin Wealth Management LLC bought a new position in AutoZone during the 3rd quarter valued at approximately $47,000. Crews Bank & Trust bought a new position in AutoZone during the 4th quarter valued at approximately $61,000. McIlrath & Eck LLC raised its position in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after purchasing an additional 4 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in AutoZone during the 3rd quarter valued at approximately $66,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 1.2 %

AutoZone stock opened at $3,484.56 on Friday. The company has a market capitalization of $58.47 billion, a P/E ratio of 23.28, a PEG ratio of 1.86 and a beta of 0.70. The stock’s 50 day moving average is $3,336.73 and its 200 day moving average is $3,216.77. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,500.00.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the business posted $32.55 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial upped their price target on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Evercore ISI upped 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. Citigroup upped their target price on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets began coverage on AutoZone in a report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 target price on the stock. Finally, Barclays upped their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,442.61.

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.