1,071 AutoZone, Inc. $AZO Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in AutoZone, Inc. (NYSE:AZO) by 20.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,079 shares of the company’s stock after selling 1,071 shares during the period. Illinois Municipal Retirement Fund’s holdings in AutoZone were worth $11,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Benchmark Investment Advisors LLC purchased a new stake in AutoZone during the second quarter valued at approximately $713,000. CYBER HORNET ETFs LLC boosted its stake in AutoZone by 33,193.5% in the second quarter. CYBER HORNET ETFs LLC now owns 15,315 shares of the company’s stock valued at $48,946,000 after acquiring an additional 15,269 shares in the last quarter. Nykredit A S acquired a new stake in AutoZone in the second quarter valued at approximately $27,287,000. Bank of America Corp DE purchased a new position in AutoZone in the second quarter worth $233,576,000. Finally, Engineers Gate Manager LP grew its holdings in AutoZone by 923.1% in the second quarter. Engineers Gate Manager LP now owns 1,238 shares of the company’s stock worth $3,957,000 after purchasing an additional 1,117 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Up 0.5%

AZO stock opened at $3,234.93 on Thursday. The stock has a market capitalization of $52.06 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.37. AutoZone, Inc. has a 52 week low of $2,730.65 and a 52 week high of $3,996.25. The firm has a 50 day moving average of $3,008.24 and a 200 day moving average of $3,248.38.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the prior year, the business posted $48.71 EPS. AutoZone’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts expect that AutoZone, Inc. will post 170.30 earnings per share for the current year.

Insider Activity at AutoZone

In other news, CFO Jamere Jackson sold 6,900 shares of AutoZone stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the completion of the sale, the chief financial officer directly owned 496 shares in the company, valued at approximately $1,646,576.16. The trade was a 93.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AZO. Raymond James Financial reduced their price target on AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 23rd. Truist Financial lowered their price objective on AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. Weiss Ratings restated a “hold (c)” rating on shares of AutoZone in a research note on Wednesday, October 21st. Guggenheim reduced their target price on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, Piper Sandler set a $3,500.00 price target on AutoZone in a research note on Monday, August 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,674.36.

AutoZone Company Profile

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores. Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.