Deroy & Devereaux Private Investment Counsel Inc. Lowers Stock Holdings in AutoZone, Inc. $AZO

Deroy & Devereaux Private Investment Counsel Inc. reduced its position in AutoZone, Inc. (NYSE:AZO) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,183 shares of the company’s stock after selling 186 shares during the quarter. AutoZone comprises approximately 1.7% of Deroy & Devereaux Private Investment Counsel Inc.’s holdings, making the stock its 19th largest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in AutoZone were worth $34,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vontobel Holding Ltd. boosted its stake in shares of AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock valued at $440,037,000 after purchasing an additional 75,382 shares during the period. AQR Capital Management LLC increased its stake in AutoZone by 80.8% during the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after buying an additional 45,212 shares during the period. Victory Capital Management Inc. increased its stake in AutoZone by 401.2% during the 3rd quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock worth $222,247,000 after buying an additional 41,467 shares during the period. Rakuten Investment Management Inc. acquired a new stake in AutoZone during the 3rd quarter worth approximately $149,656,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in AutoZone by 96.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 61,096 shares of the company’s stock worth $259,533,000 after buying an additional 29,929 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Roth Mkm reduced their price objective on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. The Goldman Sachs Group lifted their target price on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. BMO Capital Markets lowered their target price on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Finally, Citigroup upped their price target on AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,312.13.

AutoZone Stock Up 2.6%

Shares of AZO opened at $3,578.99 on Friday. The stock has a 50 day moving average price of $3,573.58 and a 200 day moving average price of $3,664.31. The company has a market capitalization of $58.98 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 1.78 and a beta of 0.41. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $28.29 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.60% of the company’s stock.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.