Local Pensions Partnership Investment Ltd Sells 2,750 Shares of AutoZone, Inc. $AZO

Local Pensions Partnership Investment Ltd lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,997 shares of the company’s stock after selling 2,750 shares during the quarter. AutoZone comprises 3.5% of Local Pensions Partnership Investment Ltd’s portfolio, making the stock its 16th largest holding. Local Pensions Partnership Investment Ltd’s holdings in AutoZone were worth $196,742,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. bought a new stake in AutoZone during the third quarter worth approximately $26,000. Turning Point Benefit Group Inc. bought a new stake in AutoZone during the third quarter worth approximately $25,000. Global Trust Asset Management LLC boosted its position in AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the period. Salomon & Ludwin LLC bought a new stake in AutoZone during the third quarter worth approximately $34,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in AutoZone during the third quarter worth approximately $43,000. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the subject of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. DA Davidson set a $4,300.00 price target on AutoZone in a report on Thursday, March 5th. TD Cowen cut their price target on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a report on Monday, March 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a report on Monday, December 29th. Finally, Morgan Stanley upped their price target on AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, AutoZone 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 stock opened at $3,578.99 on Friday. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The firm has a market cap of $58.98 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.78 and a beta of 0.41. The stock has a 50 day moving average of $3,573.58 and a 200-day moving average of $3,664.31.

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

Insider Buying and Selling

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

AutoZone Profile

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.