QRG Capital Management Inc. Decreases Position in AutoZone, Inc. (NYSE:AZO)

QRG Capital Management Inc. lowered its position in AutoZone, Inc. (NYSE:AZO) by 7.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 302 shares of the company’s stock after selling 24 shares during the period. QRG Capital Management Inc.’s holdings in AutoZone were worth $967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in AutoZone during the 3rd quarter valued at about $36,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone in the third quarter valued at approximately $47,000. Crews Bank & Trust purchased a new position in shares of AutoZone during the 4th quarter worth approximately $61,000. McIlrath & Eck LLC raised its position in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in AutoZone in the 3rd quarter valued at approximately $66,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,471.00 on Tuesday. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,519.00. The business has a 50-day moving average of $3,341.31 and a 200-day moving average of $3,219.44. The company has a market capitalization of $58.25 billion, a PE ratio of 23.19, a P/E/G ratio of 1.86 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $32.55 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the topic of several recent research reports. TD Cowen upped their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Guggenheim upped their target price on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Citigroup raised their price objective on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Truist Financial upped their target price on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Argus raised their price target on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,442.61.

AutoZone Profile

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.