AutoZone, Inc. (NYSE:AZO) Position Cut by Hsbc Holdings PLC

by · The Cerbat Gem

Hsbc Holdings PLC lowered its position in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 40.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,236 shares of the company’s stock after selling 30,936 shares during the period. Hsbc Holdings PLC’s holdings in AutoZone were worth $144,715,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Headlands Technologies LLC bought a new position in AutoZone in the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC bought a new position in shares of AutoZone in the fourth quarter worth $32,000. Harbour Investments Inc. grew its stake in shares of AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of AutoZone during the fourth quarter valued at about $61,000. Finally, McIlrath & Eck LLC lifted its holdings in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AZO. DA Davidson raised AutoZone from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $3,500.00 to $4,192.00 in a report on Friday, March 21st. UBS Group boosted their price target on shares of AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their target price on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Truist Financial increased their price objective on AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley boosted their target price on shares of AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,724.00.

Check Out Our Latest Stock Report on AutoZone

AutoZone Price Performance

AZO stock opened at $3,676.16 on Wednesday. The stock has a market cap of $61.69 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 1.86 and a beta of 0.54. The company has a 50 day simple moving average of $3,580.35 and a 200 day simple moving average of $3,349.79. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,916.81.

AutoZone (NYSE:AZO – Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Dennis W. Leriche sold 1,575 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the transaction, the vice president now owns 417 shares in the company, valued at $1,501,200. The trade was a 79.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the transaction, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. This represents a 92.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,721 shares of company stock valued at $24,609,331 over the last ninety days. 2.10% of the stock is owned by company insiders.

AutoZone Profile

(Free Report)

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.

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