Sumitomo Mitsui Trust Holdings Inc. Has $122.24 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in AutoZone, Inc. (NYSE:AZO) by 1.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 47,278 shares of the company’s stock after selling 721 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of AutoZone worth $122,242,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in shares of AutoZone by 232,194.6% during the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after buying an additional 731,413 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after purchasing an additional 698,613 shares during the last quarter. Royal Bank of Canada increased its stake in shares of AutoZone by 1.3% in the third quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock worth $1,121,572,000 after purchasing an additional 5,650 shares during the period. Wellington Management Group LLP lifted its position in shares of AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after purchasing an additional 176,623 shares during the last quarter. Finally, Norges Bank bought a new stake in AutoZone during the 4th quarter valued at approximately $658,788,000. Institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AZO shares. DA Davidson upped their price target on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Wedbush upped their price objective on shares of AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. raised their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Truist Financial upped their target price on AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, Evercore ISI lifted their price target on shares of AutoZone from $3,375.00 to $3,400.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,089.61.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $2,903.51 on Tuesday. AutoZone, Inc. has a twelve month low of $2,277.88 and a twelve month high of $3,256.37. The firm has a market cap of $50.29 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.47 and a beta of 0.70. The business has a fifty day moving average of $2,990.34 and a 200-day moving average of $2,748.72.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, beating the consensus estimate of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the prior year, the firm earned $24.64 earnings per share. AutoZone’s revenue was up 4.6% compared to the same quarter last year. On average, analysts anticipate that AutoZone, Inc. will post 151.98 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the sale, the chief executive officer now directly owns 900 shares of the company’s stock, valued at approximately $2,845,512. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the transaction, the chairman now directly owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Philip B. Daniele sold 4,190 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the transaction, the chief executive officer now directly owns 900 shares of the company’s stock, valued at $2,845,512. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,890 shares of company stock valued at $58,216,693. 2.50% of the stock is currently owned by insiders.

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.