Enhancing Capital LLC Takes Position in AutoZone, Inc. (NYSE:AZO)

Enhancing Capital LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 70 shares of the company's stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AZO. Cassaday & Co Wealth Management LLC raised its holdings in shares of AutoZone by 12.0% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 93 shares of the company's stock valued at $293,000 after purchasing an additional 10 shares in the last quarter. Pathstone Holdings LLC raised its holdings in shares of AutoZone by 4.6% during the 3rd quarter. Pathstone Holdings LLC now owns 3,762 shares of the company's stock valued at $11,852,000 after purchasing an additional 165 shares in the last quarter. Caprock Group LLC raised its holdings in AutoZone by 1.5% in the 3rd quarter. Caprock Group LLC now owns 808 shares of the company's stock worth $2,545,000 after acquiring an additional 12 shares during the period. Beddow Capital Management Inc. raised its holdings in AutoZone by 2.2% in the 3rd quarter. Beddow Capital Management Inc. now owns 420 shares of the company's stock worth $1,323,000 after acquiring an additional 9 shares during the period. Finally, LGT Capital Partners LTD. raised its holdings in AutoZone by 28.1% in the 3rd quarter. LGT Capital Partners LTD. now owns 29,940 shares of the company's stock worth $94,312,000 after acquiring an additional 6,559 shares during the period. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America lifted their target price on shares of AutoZone from $3,600.00 to $3,700.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. Mizuho lifted their target price on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Wells Fargo & Company lifted their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. BMO Capital Markets lifted their target price on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Finally, Argus lowered shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, AutoZone has a consensus rating of "Moderate Buy" and an average price target of $3,683.36.

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AutoZone Stock Up 0.9 %

NYSE:AZO traded up $32.50 on Friday, reaching $3,605.88. The stock had a trading volume of 208,657 shares, compared to its average volume of 126,390. The company has a market capitalization of $60.51 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,704.43. The stock has a fifty day moving average price of $3,433.28 and a 200-day moving average price of $3,258.73.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly 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 firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. Sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Bailey L. Childress sold 160 shares of the business'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 transaction of $568,000.00. Following the completion of the sale, the senior vice president now directly owns 50 shares of the company's stock, valued at $177,500. The trade was a 76.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard Craig Smith sold 2,850 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now owns 2,924 shares of the company's stock, valued at approximately $10,555,640. This represents a 49.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,721 shares of company stock valued at $17,009,311. 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.