Cary Street Partners Financial LLC Takes $429,000 Position in AutoZone, Inc. (NYSE:AZO)

Cary Street Partners Financial LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 134 shares of the company's stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC increased its stake in shares of AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after acquiring an additional 419,375 shares during the last quarter. Norges Bank acquired a new stake in AutoZone during the 4th quarter worth $834,556,000. Strategic Financial Concepts LLC bought a new position in AutoZone during the fourth quarter worth about $471,629,000. Wealthfront Advisers LLC grew its stake in AutoZone by 6,083.9% in the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock valued at $290,281,000 after acquiring an additional 89,190 shares during the period. Finally, Barclays PLC increased its holdings in shares of AutoZone by 82.6% in the fourth quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after acquiring an additional 77,015 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

AutoZone Trading Down 0.4 %

AZO opened at $3,658.70 on Friday. The stock's fifty day simple moving average is $3,649.54 and its 200 day simple moving average is $3,398.25. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81. The stock has a market cap of $61.40 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.86 and a beta of 0.44.

AutoZone (NYSE:AZO - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. Equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on AZO. UBS Group lifted their price target on shares of AutoZone from $3,875.00 to $4,025.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Evercore ISI upped their target price on shares of AutoZone from $3,525.00 to $3,700.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Argus downgraded AutoZone from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Mizuho upped their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Finally, BMO Capital Markets lifted their target price on AutoZone from $3,700.00 to $3,850.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $3,821.91.

Insider Transactions at AutoZone

In related news, SVP K. Michelle Borninkhof sold 136 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total value of $482,810.88. Following the completion of the sale, the senior vice president now directly owns 403 shares in the company, valued at $1,430,682.24. The trade was a 25.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard Craig Smith sold 2,850 shares of AutoZone stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the sale, the vice president now directly owns 2,924 shares of the company's stock, valued at $10,555,640. This represents a 49.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,521 shares of company stock worth $42,177,331 over the last quarter. Company insiders own 2.10% of the company's stock.

AutoZone Company 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.

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