Advisory Services Network LLC Has $7.59 Million Position in AutoZone, Inc. (NYSE:AZO)

Advisory Services Network LLC trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,372 shares of the company's stock after selling 110 shares during the period. Advisory Services Network LLC's holdings in AutoZone were worth $7,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at $29,000. Flagship Wealth Advisors LLC purchased a new stake in AutoZone in the 4th quarter worth about $32,000. Harbour Investments Inc. boosted its position in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after acquiring an additional 3 shares during the period. Crews Bank & Trust purchased a new position in AutoZone during the 4th quarter valued at about $61,000. Finally, McIlrath & Eck LLC increased its holdings in shares of AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after purchasing an additional 4 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AZO shares. Morgan Stanley increased their price objective on AutoZone from $3,490.00 to $3,750.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Evercore ISI increased their price objective on AutoZone from $3,525.00 to $3,700.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Barclays boosted their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a research report on Thursday, January 9th. The Goldman Sachs Group upgraded shares of AutoZone from a "sell" rating to a "neutral" rating and increased their price target for the stock from $3,044.00 to $3,811.00 in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $3,724.00.

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Insiders Place Their Bets

In other news, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the transaction, the chief executive officer now owns 163 shares of the company's stock, valued at approximately $619,401.63. The trade was a 92.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the transaction, the senior vice president now directly owns 403 shares of the company's stock, valued at $1,430,682.24. This trade represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,721 shares of company stock worth $24,609,331 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Trading Up 0.7 %

Shares of AutoZone stock traded up $24.44 during trading on Monday, hitting $3,684.04. 22,174 shares of the stock were exchanged, compared to its average volume of 134,452. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81. The stock has a market capitalization of $61.83 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. The company has a fifty day moving average price of $3,556.50 and a 200-day moving average price of $3,326.80.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. Equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.