Advisors Asset Management Inc. Has $3.16 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Advisors Asset Management Inc. raised its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 49.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 988 shares of the company's stock after purchasing an additional 329 shares during the period. Advisors Asset Management Inc.'s holdings in AutoZone were worth $3,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Proficio Capital Partners LLC boosted its stake in AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after acquiring an additional 419,375 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of AutoZone during the fourth quarter worth about $471,629,000. Wealthfront Advisers LLC lifted its position in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after purchasing an additional 89,190 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after purchasing an additional 60,483 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in AutoZone during the fourth quarter valued at approximately $189,483,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several brokerages have recently commented on AZO. UBS Group lifted their target price on AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Bank of America boosted their target price on shares of AutoZone from $3,600.00 to $3,700.00 and gave the company a "neutral" rating in a research note on Wednesday, March 5th. Citigroup raised their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. BMO Capital Markets increased their price objective on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Finally, Raymond James reiterated a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and a consensus target price of $3,683.36.

AutoZone Stock Performance

NYSE AZO traded up $17.67 on Tuesday, reaching $3,675.49. The company's stock had a trading volume of 135,248 shares, compared to its average volume of 126,257. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,704.43. The firm's 50 day moving average is $3,450.75 and its two-hundred day moving average is $3,267.24. The stock has a market cap of $61.68 billion, a PE ratio of 24.56, a PEG ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last issued 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 business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. Equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Transactions at AutoZone

In related news, SVP K. Michelle Borninkhof sold 136 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 403 shares in the company, valued at approximately $1,430,682.24. This represents a 25.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Craig Smith sold 2,850 shares of AutoZone stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the transaction, the vice president now owns 2,924 shares in the company, valued at approximately $10,555,640. The trade was a 49.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,721 shares of company stock valued at $17,009,311 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

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.