Allspring Global Investments Holdings LLC Sells 384 Shares of AutoZone, Inc. (NYSE:AZO)

Allspring Global Investments Holdings LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,649 shares of the company’s stock after selling 384 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AutoZone were worth $24,859,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AZO. Capital Performance Advisors LLP bought a new stake in shares of AutoZone during the third quarter worth about $36,000. Carolina Wealth Advisors LLC bought a new stake in AutoZone during the 3rd quarter worth approximately $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone in the third quarter worth approximately $47,000. Crews Bank & Trust bought a new position in shares of AutoZone in the fourth quarter valued at approximately $61,000. Finally, McIlrath & Eck LLC boosted its position in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after buying an additional 4 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,461.94 on Friday. The stock has a market capitalization of $58.09 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.92 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,680.96 and a 52-week high of $3,484.42. The stock’s 50-day simple moving average is $3,315.89 and its 200 day simple moving average is $3,197.01.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates 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 previous year, the company posted $32.55 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AZO shares. Barclays increased their price target on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Mizuho raised their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. BMO Capital Markets initiated coverage on shares of AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Citigroup upped their target price on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $3,429.84.

About AutoZone

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.