Highview Capital Management LLC DE Reduces Stock Position in AutoZone, Inc. (NYSE:AZO)

Highview Capital Management LLC DE lowered its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 41.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 301 shares of the company's stock after selling 214 shares during the quarter. Highview Capital Management LLC DE's holdings in AutoZone were worth $964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AZO. Proficio Capital Partners LLC raised its holdings 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 worth $1,343,117,000 after purchasing an additional 419,375 shares during the period. Norges Bank purchased a new position in AutoZone in the 4th quarter valued at approximately $834,556,000. Strategic Financial Concepts LLC purchased a new position in AutoZone in the 4th quarter valued at approximately $471,629,000. Wealthfront Advisers LLC grew its stake in AutoZone by 6,083.9% in the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock valued at $290,281,000 after buying an additional 89,190 shares in the last quarter. Finally, Barclays PLC grew its stake in AutoZone by 82.6% in the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after buying an additional 77,015 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Activity

In other news, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares in the company, valued at approximately $177,500. This trade represents a 76.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the completion of the sale, the chief executive officer now directly owns 163 shares in the company, valued at approximately $619,401.63. This represents a 92.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,521 shares of company stock valued at $42,177,331. Insiders own 2.10% of the company's stock.

AutoZone Stock Down 0.8%

Shares of NYSE:AZO traded down $29.62 during midday trading on Friday, hitting $3,829.63. 151,200 shares of the stock traded hands, compared to its average volume of 128,723. The stock has a market capitalization of $64.27 billion, a PE ratio of 25.59, a P/E/G ratio of 1.86 and a beta of 0.44. The business's 50 day moving average is $3,687.30 and its two-hundred day moving average is $3,448.47. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,916.81.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AZO. JPMorgan Chase & Co. lifted their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research note on Friday. Wells Fargo & Company set a $4,200.00 price target on shares of AutoZone and gave the company an "overweight" rating in a research report on Monday, May 19th. Guggenheim boosted their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Truist Financial set a $3,995.00 price target on shares of AutoZone in a research report on Friday. Finally, Evercore ISI set a $3,950.00 price target on shares of AutoZone in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $3,966.76.

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.