Envestnet Asset Management Inc. Acquires 7,586 Shares of AutoZone, Inc. (NYSE:AZO)

Envestnet Asset Management Inc. grew its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,016 shares of the company's stock after buying an additional 7,586 shares during the period. Envestnet Asset Management Inc. owned 0.39% of AutoZone worth $211,383,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AZO shares. Argus downgraded shares of AutoZone from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Morgan Stanley raised their price objective on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Wells Fargo & Company upped their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Roth Mkm increased their price objective on AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, Barclays boosted their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a research report on Thursday, January 9th. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, AutoZone currently has a consensus rating of "Moderate Buy" and an average target price of $3,724.00.

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AutoZone Price Performance

NYSE:AZO traded up $40.85 during mid-day trading on Friday, reaching $3,656.09. 144,421 shares of the company's stock traded hands, compared to its average volume of 133,434. The company has a 50 day moving average price of $3,556.50 and a 200-day moving average price of $3,325.86. The firm has a market capitalization of $61.36 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,916.81.

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

Insiders Place Their Bets

In other news, CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value 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. This represents a 92.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the transaction, the senior vice president now owns 50 shares of the company's stock, valued at approximately $177,500. The trade was a 76.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,721 shares of company stock worth $24,609,331. 2.10% of the stock is currently owned by corporate insiders.

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.