Fmr LLC Has $837.72 Million Holdings in AutoZone, Inc. (NYSE:AZO)

FMR LLC trimmed its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,624 shares of the company's stock after selling 47,769 shares during the quarter. FMR LLC owned approximately 1.56% of AutoZone worth $837,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new position in AutoZone during the fourth quarter valued at about $29,000. Flagship Wealth Advisors LLC bought a new position in shares of AutoZone in the 4th quarter valued at approximately $32,000. Harbour Investments Inc. lifted 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 purchasing an additional 3 shares during the last quarter. Crews Bank & Trust bought a new stake in AutoZone during the fourth quarter worth approximately $61,000. Finally, McIlrath & Eck LLC grew its holdings in AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after purchasing an additional 4 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AZO shares. BMO Capital Markets upped their price objective 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. Guggenheim raised their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Morgan Stanley lifted their price objective on AutoZone from $3,490.00 to $3,750.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their target price on AutoZone from $3,775.00 to $3,830.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Truist Financial lifted their price target on AutoZone from $3,753.00 to $3,841.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3,724.00.

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Insiders Place Their Bets

In related news, CEO Philip B. Daniele sold 2,000 shares of the firm's 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 value of $7,600,020.00. Following the completion of the sale, the chief executive officer now owns 163 shares of the company's stock, valued at $619,401.63. This trade represents a 92.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Dennis W. Leriche sold 1,575 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the transaction, the vice president now directly owns 417 shares in the company, valued at approximately $1,501,200. This represents a 79.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,721 shares of company stock valued at $24,609,331. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Price Performance

Shares of AZO traded up $40.85 during trading hours on Friday, hitting $3,656.09. The stock had a trading volume of 144,421 shares, compared to its average volume of 133,377. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,916.81. The stock has a market capitalization of $61.36 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 1.86 and a beta of 0.54. The company's fifty day moving average is $3,556.50 and its two-hundred day moving average is $3,326.80.

AutoZone (NYSE:AZO - Get Free Report) last posted 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). The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. Equities 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.