Desjardins Global Asset Management Inc. Has $308,000 Holdings in AutoZone, Inc. (NYSE:AZO)

Desjardins Global Asset Management Inc. decreased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 4.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 119 shares of the company’s stock after selling 6 shares during the period. Desjardins Global Asset Management Inc.’s holdings in AutoZone were worth $308,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AZO. Householder Group Estate & Retirement Specialist LLC purchased a new position in AutoZone in the third quarter worth $25,000. Rock Creek Group LP purchased a new position in AutoZone in the third quarter worth $25,000. First Capital Advisors Group LLC. purchased a new position in AutoZone in the second quarter worth $32,000. MUFG Americas Holdings Corp boosted its position in AutoZone by 166.7% in the third quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after purchasing an additional 10 shares during the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in AutoZone in the third quarter worth $38,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the transaction, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the transaction, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the transaction, the chief executive officer now directly owns 900 shares of the company’s stock, valued at approximately $2,845,512. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock worth $50,335,193 in the last ninety days. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AZO shares. Morgan Stanley boosted their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. boosted their target price on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Barclays boosted their target price on AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Truist Financial boosted their target price on AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,086.61.

AutoZone Price Performance

Shares of AZO stock opened at $2,973.17 on Friday. The stock has a market capitalization of $51.50 billion, a PE ratio of 20.93, a P/E/G ratio of 1.45 and a beta of 0.70. AutoZone, Inc. has a 1-year low of $2,277.88 and a 1-year high of $3,256.37. The business has a 50-day moving average of $2,998.95 and a 200 day moving average of $2,754.16.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating the consensus estimate of $26.08 by $2.81. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. AutoZone’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $24.64 EPS. Analysts anticipate that AutoZone, Inc. will post 151.98 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.