Pacer Advisors Inc. Acquires 1,115 Shares of AutoZone, Inc. (NYSE:AZO)

Pacer Advisors Inc. raised its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 77.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,562 shares of the company's stock after buying an additional 1,115 shares during the period. Pacer Advisors Inc.'s holdings in AutoZone were worth $6,624,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AZO. Raymond James Financial Services Advisors Inc. boosted its position in AutoZone by 0.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,667 shares of the company's stock worth $40,509,000 after acquiring an additional 125 shares during the last quarter. Raymond James & Associates raised its stake in AutoZone by 13.2% during the fourth quarter. Raymond James & Associates now owns 33,731 shares of the company's stock worth $87,215,000 after purchasing an additional 3,935 shares during the period. Wealthsource Partners LLC raised its stake in AutoZone by 3.2% during the fourth quarter. Wealthsource Partners LLC now owns 260 shares of the company's stock worth $672,000 after purchasing an additional 8 shares during the period. HB Wealth Management LLC raised its stake in AutoZone by 1.7% during the fourth quarter. HB Wealth Management LLC now owns 1,352 shares of the company's stock worth $3,496,000 after purchasing an additional 22 shares during the period. Finally, Chickasaw Capital Management LLC raised its stake in AutoZone by 9.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,883 shares of the company's stock worth $4,869,000 after purchasing an additional 166 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of NYSE AZO traded down $40.72 during midday trading on Thursday, hitting $3,152.07. The company's stock had a trading volume of 173,051 shares, compared to its average volume of 161,638. AutoZone, Inc. has a 1-year low of $2,277.88 and a 1-year high of $3,256.37. The firm's fifty day moving average price is $2,912.84 and its 200-day moving average price is $2,699.29. The firm has a market cap of $54.53 billion, a P/E ratio of 22.19, a P/E/G ratio of 1.69 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, beating the consensus estimate of $26.08 by $2.81. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The company's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $24.64 EPS. As a group, research analysts predict that AutoZone, Inc. will post 151.33 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Eric S. Gould sold 2,100 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the vice president now directly owns 910 shares of the company's stock, valued at approximately $2,912,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AutoZone news, VP Eric S. Gould sold 2,100 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the sale, the vice president now directly owns 910 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 6,700 shares of the business's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the sale, the chairman now owns 15,357 shares in the company, valued at $48,992,208.54. The disclosure for this sale can be found here. Insiders sold 27,797 shares of company stock valued at $81,010,974 in the last ninety days. Company insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AZO. JPMorgan Chase & Co. raised their target price on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an "overweight" rating in a research note on Wednesday, February 28th. StockNews.com downgraded shares of AutoZone from a "buy" rating to a "hold" rating in a research note on Wednesday. Barclays raised their target price on shares of AutoZone from $2,779.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. Mizuho began coverage on shares of AutoZone in a research note on Tuesday, March 19th. They set a "buy" rating and a $3,450.00 price target on the stock. Finally, Stephens lifted their price target on shares of AutoZone from $3,000.00 to $3,070.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 6th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AutoZone has an average rating of "Moderate Buy" and an average price target of $3,080.72.

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.