Northern Trust Corp Has $655.60 Million Stake in AutoZone, Inc. (NYSE:AZO)

Northern Trust Corp increased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,748 shares of the company's stock after buying an additional 36,916 shares during the quarter. Northern Trust Corp owned 1.22% of AutoZone worth $655,603,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AZO. Franklin Resources Inc. raised its position in AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock worth $141,717,000 after purchasing an additional 6,898 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of AutoZone by 29.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company's stock valued at $111,455,000 after buying an additional 7,922 shares during the period. Silverleafe Capital Partners LLC lifted its holdings in shares of AutoZone by 1.0% in the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company's stock valued at $8,460,000 after purchasing an additional 26 shares in the last quarter. Barclays PLC grew its holdings 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 buying an additional 77,015 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in AutoZone by 13.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 66,016 shares of the company's stock valued at $211,383,000 after buying an additional 7,586 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of recent research reports. Raymond James reissued a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, March 5th. Evercore ISI boosted their price target on AutoZone from $3,525.00 to $3,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Argus lowered AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their price target on AutoZone from $3,750.00 to $3,850.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, DA Davidson raised AutoZone from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $3,500.00 to $4,192.00 in a research report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $3,724.00.

Insider Transactions at AutoZone

In related news, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the sale, the chief executive officer now directly owns 163 shares in the company, valued at $619,401.63. This trade represents a 92.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of AutoZone stock in a transaction that occurred 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 owns 159 shares in the company, valued at approximately $581,940. This represents a 96.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,521 shares of company stock valued at $42,177,331. Corporate insiders own 2.10% of the company's stock.

AutoZone Stock Down 0.8 %

Shares of NYSE:AZO traded down $29.35 during trading on Thursday, reaching $3,733.25. 100,831 shares of the company traded hands, compared to its average volume of 131,981. The company's 50 day moving average is $3,609.63 and its two-hundred day moving average is $3,370.89. The firm has a market capitalization of $62.65 billion, a PE ratio of 24.94, a PEG ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last released 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). The company 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, research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

About AutoZone

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.