Marshall Wace LLP Reduces Holdings in AutoZone, Inc. (NYSE:AZO)

Marshall Wace LLP lowered its position in AutoZone, Inc. (NYSE:AZO) by 34.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,100 shares of the company’s stock after selling 4,845 shares during the period. Marshall Wace LLP owned 0.05% of AutoZone worth $26,973,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. acquired a new position in AutoZone during the fourth quarter worth about $78,000. Focus Financial Network Inc. ADV purchased a new position in AutoZone in the 4th quarter worth approximately $295,000. Roundview Capital LLC boosted its holdings in shares of AutoZone by 1.1% during the 4th quarter. Roundview Capital LLC now owns 633 shares of the company’s stock worth $1,637,000 after purchasing an additional 7 shares during the last quarter. Avestar Capital LLC grew its position in shares of AutoZone by 5.9% in the fourth quarter. Avestar Capital LLC now owns 416 shares of the company’s stock valued at $1,076,000 after purchasing an additional 23 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in shares of AutoZone by 10.9% in the fourth quarter. Scotia Capital Inc. now owns 1,101 shares of the company’s stock valued at $2,847,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AZO shares. UBS Group boosted their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley raised their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial decreased their target price on shares of AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a report on Wednesday. Evercore ISI decreased their price objective on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Oppenheimer restated a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3,169.38.

AutoZone Stock Up 2.7 %

Shares of AZO opened at $3,191.56 on Friday. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The company has a market cap of $54.51 billion, a P/E ratio of 22.07, a PEG ratio of 1.43 and a beta of 0.71. The firm’s 50 day moving average price is $3,111.58 and its 200 day moving average price is $3,010.06.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the previous year, the business posted $46.46 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Research analysts forecast that AutoZone, Inc. will post 151.08 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.