Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in AutoZone, Inc. (NYSE:AZO)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,632 shares of the company's stock after selling 386 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in AutoZone were worth $9,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AZO. RB Capital Management LLC purchased a new stake in AutoZone during the first quarter valued at approximately $274,000. Fairfield Bush & CO. purchased a new stake in shares of AutoZone in the first quarter worth approximately $57,000. Roundview Capital LLC raised its holdings in shares of AutoZone by 8.1% in the first quarter. Roundview Capital LLC now owns 426 shares of the company's stock worth $871,000 after buying an additional 32 shares during the period. Cetera Advisor Networks LLC raised its holdings in shares of AutoZone by 31.7% in the first quarter. Cetera Advisor Networks LLC now owns 237 shares of the company's stock worth $485,000 after buying an additional 57 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of AutoZone by 24.4% in the first quarter. Sei Investments Co. now owns 12,966 shares of the company's stock worth $26,331,000 after buying an additional 2,545 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AZO. Mizuho began coverage on AutoZone in a report on Tuesday, March 19th. They issued a "buy" rating and a $3,450.00 price target on the stock. UBS Group increased their price target on AutoZone from $3,100.00 to $3,425.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. StockNews.com downgraded AutoZone from a "buy" rating to a "hold" rating in a report on Friday, April 12th. Wedbush raised their price objective on AutoZone from $2,950.00 to $3,400.00 and gave the stock an "outperform" rating in a report on Wednesday, February 28th. Finally, Morgan Stanley raised their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and an average price target of $3,086.61.

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 6,700 shares of the firm's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company's stock, valued at approximately $48,992,208.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AutoZone news, CEO Philip B. Daniele sold 4,190 shares of AutoZone stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the completion of the transaction, the chief executive officer now owns 900 shares in the company, valued at approximately $2,845,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the transaction, the chairman now owns 15,357 shares of the company's stock, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock valued at $50,335,193 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

AutoZone Stock Up 0.4 %

Shares of AutoZone stock traded up $12.37 during trading on Friday, reaching $2,985.54. The company's stock had a trading volume of 114,397 shares, compared to its average volume of 124,587. The company has a market cap of $51.71 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 1.48 and a beta of 0.70. AutoZone, Inc. has a 1-year low of $2,277.88 and a 1-year high of $3,256.37. The company has a 50-day simple moving average of $3,005.06 and a two-hundred day simple moving average of $2,761.20.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, topping analysts' consensus estimates of $26.08 by $2.81. The firm had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $24.64 EPS. As a group, analysts anticipate that AutoZone, Inc. will post 152.4 earnings per share 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.