AutoZone, Inc. (NYSE:AZO) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,594 shares of the company's stock after selling 125 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in AutoZone were worth $11,508,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in AutoZone during the 4th quarter valued at approximately $32,000. Harbour Investments Inc. raised its stake in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after buying an additional 3 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone in the third quarter worth $47,000. Crews Bank & Trust purchased a new position in shares of AutoZone in the 4th quarter worth about $61,000. Finally, McIlrath & Eck LLC boosted its stake in AutoZone by 25.0% in the 3rd 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 hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DA Davidson upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $3,500.00 to $4,192.00 in a report on Friday. Bank of America raised their price target on shares of AutoZone from $3,600.00 to $3,700.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. Barclays lifted 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. Evercore ISI increased their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $3,683.36.

Remove Ads

AutoZone Stock Performance

AZO stock traded down $21.69 during midday trading on Tuesday, reaching $3,636.13. 36,894 shares of the company traded hands, compared to its average volume of 119,491. The firm has a market capitalization of $61.02 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 1.86 and a beta of 0.71. The business has a 50 day moving average of $3,441.73 and a 200-day moving average of $3,263.12. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share 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 firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. Research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 2,850 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the sale, the vice president now owns 2,924 shares of the company's stock, valued at $10,555,640. This trade represents a 49.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dennis W. Leriche sold 1,575 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the transaction, the vice president now directly owns 417 shares of the company's stock, valued at $1,501,200. The trade was a 79.07 % 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 worth $17,009,311 over the last 90 days. Company insiders own 2.10% of the company's stock.

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.