Fayez Sarofim & Co Boosts Stock Position in AutoZone, Inc. (NYSE:AZO)

Fayez Sarofim & Co increased its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 38.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 277 shares of the company's stock after purchasing an additional 77 shares during the period. Fayez Sarofim & Co's holdings in AutoZone were worth $887,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Proficio Capital Partners LLC raised its position in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after buying an additional 419,375 shares in the last quarter. Norges Bank bought a new stake in AutoZone during the fourth quarter worth approximately $834,556,000. Strategic Financial Concepts LLC purchased a new stake in AutoZone during the fourth quarter valued at approximately $471,629,000. Wealthfront Advisers LLC lifted its stake in shares of AutoZone by 6,083.9% in the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock valued at $290,281,000 after purchasing an additional 89,190 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of AutoZone by 82.6% in the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after purchasing an additional 77,015 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AZO. Mizuho increased their price target on AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. DA Davidson raised shares of AutoZone from a "neutral" rating to a "buy" rating and increased their target price for the company from $3,500.00 to $4,192.00 in a research note on Friday, March 21st. Wedbush restated an "outperform" rating and issued a $3,700.00 target price on shares of AutoZone in a report on Wednesday, March 5th. Wells Fargo & Company upped their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $3,724.00.

Insider Transactions at AutoZone

In other news, VP Richard Craig Smith sold 2,850 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the sale, the vice president now owns 2,924 shares in the company, valued at approximately $10,555,640. The trade was a 49.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the transaction, the chief executive officer now directly owns 163 shares of the company's stock, valued at $619,401.63. The trade was a 92.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,521 shares of company stock valued at $42,177,331 in the last 90 days. Insiders own 2.10% of the company's stock.

AutoZone Stock Down 0.1 %

AZO stock traded down $3.61 during trading on Friday, hitting $3,606.04. 103,827 shares of the company's stock traded hands, compared to its average volume of 132,022. The firm has a market capitalization of $60.52 billion, a P/E ratio of 24.09, a PEG ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,916.81. The business has a fifty day simple moving average of $3,591.32 and a two-hundred day simple moving average of $3,359.12.

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 the consensus estimate of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

About AutoZone

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.