AutoZone, Inc. (NYSE:AZO) Stake Lessened by Evercore Wealth Management LLC

Evercore Wealth Management LLC lessened its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,512 shares of the company's stock after selling 379 shares during the period. AutoZone comprises about 2.8% of Evercore Wealth Management LLC's portfolio, making the stock its 8th largest holding. Evercore Wealth Management LLC owned 0.34% of AutoZone worth $184,153,000 at the end of the most recent quarter.

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

Insider Activity at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares in the company, valued at $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. This trade represents a 92.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,721 shares of company stock worth $24,609,331. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on AZO shares. Guggenheim lifted their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. UBS Group boosted their price objective on AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Morgan Stanley raised their target price on AutoZone from $3,490.00 to $3,750.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Raymond James reaffirmed a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, March 5th. Finally, Barclays increased their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the company an "overweight" rating in a research note on Thursday, January 9th. Five 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3,724.00.

AutoZone Stock Up 3.0 %

Shares of AutoZone stock opened at $3,676.16 on Wednesday. The firm has a market cap of $61.69 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,916.81. The business's fifty day simple moving average is $3,580.35 and its 200-day simple moving average is $3,349.79.

AutoZone (NYSE:AZO - Get Free Report) last posted its earnings results 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 net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. As a group, equities analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone 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.

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