AutoZone, Inc. (NYSE:AZO) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 11.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,500 shares of the company's stock after selling 200 shares during the period. Gabelli Funds LLC's holdings in AutoZone were worth $4,803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in AutoZone during the fourth quarter worth approximately $29,000. Flagship Wealth Advisors LLC purchased a new position in AutoZone in the fourth quarter valued at about $32,000. Harbour Investments Inc. raised its position in AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after purchasing an additional 3 shares during the period. Crews Bank & Trust purchased a new position in AutoZone in the fourth quarter valued at about $61,000. Finally, McIlrath & Eck LLC raised its position in AutoZone by 25.0% in 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 period. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Activity

In other news, VP Richard Craig Smith sold 2,850 shares of AutoZone stock in a transaction that occurred on 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 of the company's stock, valued at approximately $10,555,640. The trade was a 49.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the sale, the chief executive officer now directly owns 163 shares in the company, valued at approximately $619,401.63. The trade was a 92.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,721 shares of company stock valued at $24,609,331. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on AZO shares. Roth Capital set a $3,763.00 price objective on AutoZone in a research report on Wednesday, March 5th. DA Davidson raised AutoZone from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $3,500.00 to $4,192.00 in a research report on Friday, March 21st. Bank of America lifted their target price on AutoZone from $3,600.00 to $3,700.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. BMO Capital Markets lifted their target price on AutoZone from $3,700.00 to $3,850.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Finally, Argus lowered AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $3,724.00.

AutoZone Stock Down 0.0 %

AZO stock traded down $0.34 during midday trading on Wednesday, reaching $3,678.32. The company had a trading volume of 35,203 shares, compared to its average volume of 132,567. The stock has a 50 day moving average price of $3,580.35 and a 200 day moving average price of $3,349.79. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,916.81. The firm has a market capitalization of $61.73 billion, a PE ratio of 24.57, a P/E/G ratio of 1.86 and a beta of 0.54.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Research analysts predict that AutoZone, Inc. will post 152.94 EPS 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.