PGGM Investments Cuts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

PGGM Investments lowered its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,315 shares of the company's stock after selling 1,050 shares during the period. PGGM Investments' holdings in AutoZone were worth $11,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Rock Creek Group LP acquired a new position in shares of AutoZone during the 3rd quarter worth about $25,000. ORG Partners LLC acquired a new position in shares of AutoZone during the 3rd quarter worth about $43,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of AutoZone during the 3rd quarter worth about $51,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AutoZone during the 4th quarter worth about $54,000. Finally, Steward Financial Group LLC grew its position in shares of AutoZone by 66.7% in the 3rd quarter. Steward Financial Group LLC now owns 25 shares of the company's stock valued at $63,000 after purchasing an additional 10 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Up 0.0 %

Shares of AutoZone stock traded up $0.73 on Friday, reaching $2,945.98. 115,841 shares of the company were exchanged, compared to its average volume of 128,387. AutoZone, Inc. has a one year low of $2,277.88 and a one year high of $3,256.37. The company has a market capitalization of $51.02 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.46 and a beta of 0.70. The company has a 50-day moving average of $3,029.04 and a 200 day moving average of $2,775.45.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $26.08 by $2.81. The company had revenue of $3.86 billion for 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 revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $24.64 EPS. Analysts predict that AutoZone, Inc. will post 152.4 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Eric S. Gould sold 2,100 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the company'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 transaction, the chairman now directly owns 15,357 shares of the company's stock, valued at approximately $48,992,208.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Eric S. Gould sold 2,100 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the completion of the transaction, the vice president now directly owns 910 shares in the company, valued at $2,912,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,990 shares of company stock valued at $50,335,193. 2.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AZO. Evercore ISI decreased their price objective on AutoZone from $3,400.00 to $3,346.00 and set an "outperform" rating for the company in a research report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an "overweight" rating in a research report on Wednesday, February 28th. Mizuho began coverage on AutoZone in a research report on Tuesday, March 19th. They issued a "buy" rating and a $3,450.00 price objective for the company. UBS Group boosted their price objective on AutoZone from $3,100.00 to $3,425.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Finally, DA Davidson boosted their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the company a "neutral" rating in a research report on Wednesday, February 28th. Five equities research 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $3,086.61.

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.