Intech Investment Management LLC Has $16.38 Million Position in AutoZone, Inc. (NYSE:AZO)

Intech Investment Management LLC boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,114 shares of the company's stock after purchasing an additional 947 shares during the period. Intech Investment Management LLC's holdings in AutoZone were worth $16,375,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new position in AutoZone during the fourth quarter worth about $32,000. Harbour Investments Inc. increased its holdings in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after buying an additional 3 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone during the third quarter worth approximately $47,000. Crews Bank & Trust acquired a new stake in shares of AutoZone during the fourth quarter worth approximately $61,000. Finally, McIlrath & Eck LLC increased 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 buying an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

Shares of NYSE AZO traded up $32.50 during midday trading on Friday, reaching $3,605.88. 208,657 shares of the stock were exchanged, compared to its average volume of 126,293. The business has a 50-day simple moving average of $3,433.28 and a two-hundred day simple moving average of $3,257.92. The company has a market capitalization of $60.51 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,704.43.

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AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly 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 firm 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 expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the business's stock in a transaction 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 sale, the senior vice president now directly owns 50 shares of the company's stock, valued at approximately $177,500. The trade was a 76.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 2,850 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the completion of the sale, the vice president now directly owns 2,924 shares in the company, valued at $10,555,640. This represents a 49.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,721 shares of company stock valued at $17,009,311. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AZO. Guggenheim raised their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. DA Davidson raised shares of AutoZone from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $3,500.00 to $4,192.00 in a report on Friday. Morgan Stanley raised their price objective on shares of AutoZone from $3,490.00 to $3,750.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. UBS Group raised their price target on shares of AutoZone from $3,875.00 to $4,025.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Truist Financial raised their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, AutoZone currently has a consensus rating of "Moderate Buy" and an average target price of $3,683.36.

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.