Kovitz Investment Group Partners LLC Raises Stock Position in AutoZone, Inc. (NYSE:AZO)

Kovitz Investment Group Partners LLC boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,583 shares of the company's stock after purchasing an additional 1,634 shares during the period. Kovitz Investment Group Partners LLC's holdings in AutoZone were worth $24,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of AutoZone during the fourth quarter valued at approximately $29,000. Flagship Wealth Advisors LLC purchased a new position in AutoZone during the 4th quarter valued at $32,000. Harbour Investments Inc. raised its holdings in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after purchasing an additional 3 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of AutoZone in the 4th quarter worth about $61,000. Finally, McIlrath & Eck LLC boosted its stake in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after purchasing an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AZO. Barclays raised their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. UBS Group lifted their price target on AutoZone from $3,875.00 to $4,025.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Morgan Stanley upped their price target on AutoZone from $3,490.00 to $3,750.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Wells Fargo & Company raised their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, Mizuho upped their target price on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $3,724.00.

Insider Buying and Selling at AutoZone

In related news, SVP K. Michelle Borninkhof sold 136 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total value of $482,810.88. Following the sale, the senior vice president now directly owns 403 shares of the company's stock, valued at $1,430,682.24. This represents a 25.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the transaction, the vice president now owns 159 shares of the company's stock, valued at $581,940. This trade represents a 96.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,521 shares of company stock worth $42,177,331 over the last ninety days. Company insiders own 2.10% of the company's stock.

AutoZone Price Performance

Shares of AZO stock traded down $19.69 during trading hours on Thursday, hitting $3,742.91. The stock had a trading volume of 27,067 shares, compared to its average volume of 131,547. The stock's 50-day moving average price is $3,609.63 and its two-hundred day moving average price is $3,370.89. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,916.81. The stock has a market capitalization of $62.81 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.86 and a beta of 0.54.

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

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.