Bessemer Group Inc. Has $4.66 Million Holdings in AutoZone, Inc. (NYSE:AZO)

Bessemer Group Inc. cut its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 96.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,221 shares of the company's stock after selling 29,402 shares during the quarter. Bessemer Group Inc.'s holdings in AutoZone were worth $4,655,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of AutoZone by 435,031.1% during the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after acquiring an additional 770,005 shares during the last quarter. Norges Bank bought a new position in shares of AutoZone during the fourth quarter worth about $834,556,000. Wealthfront Advisers LLC raised its position in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after acquiring an additional 89,190 shares during the last quarter. Barclays PLC raised its position in shares of AutoZone by 82.6% during 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 during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of AutoZone during the fourth quarter worth about $189,483,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Up 2.4%

AZO stock opened at $3,606.82 on Friday. AutoZone, Inc. has a twelve month low of $2,801.49 and a twelve month high of $3,916.81. The firm has a market cap of $60.52 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.11 and a beta of 0.40. The business has a 50 day moving average of $3,694.76 and a 200 day moving average of $3,532.18.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the business earned $36.69 EPS. The firm's quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, VP Domingo Hurtado sold 4,800 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the sale, the vice president now directly owns 159 shares in the company, valued at approximately $581,940. This trade represents a 96.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the sale, the senior vice president now owns 406 shares in the company, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,662 shares of company stock valued at $131,999,089 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a research report on Friday, May 23rd. Mizuho raised their target price on AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating and set a $4,000.00 target price (up previously from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Wedbush reaffirmed an "outperform" rating and set a $3,700.00 target price on shares of AutoZone in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $4,072.24.

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.

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