Geode Capital Management LLC Raises Holdings in AutoZone, Inc. (NYSE:AZO)

Geode Capital Management LLC raised its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,116 shares of the company's stock after purchasing an additional 400 shares during the period. Geode Capital Management LLC owned 2.52% of AutoZone worth $1,351,901,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Proficio Capital Partners LLC lifted its stake in AutoZone by 482,040.2% in 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 acquired a new position in shares of AutoZone during the fourth quarter valued at approximately $834,556,000. Strategic Financial Concepts LLC purchased a new position in shares of AutoZone in the fourth quarter valued at approximately $471,629,000. Wealthfront Advisers LLC boosted its stake in shares of AutoZone by 6,083.9% in the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after acquiring an additional 89,190 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of AutoZone during the fourth quarter worth approximately $189,483,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Analysts Set New Price Targets

AZO has been the topic of several recent research reports. 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 note on Thursday, January 9th. UBS Group boosted their price target on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. TD Cowen upped their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Evercore ISI raised their target price 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, Wedbush restated an "outperform" rating and issued a $3,700.00 price target on shares of AutoZone in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $3,724.00.

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Insider Buying and Selling

In other news, VP Richard Craig Smith sold 2,850 shares of the company'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 completion of the transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now 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 ninety days, insiders have sold 6,721 shares of company stock worth $24,609,331. Company insiders own 2.10% of the company's stock.

AutoZone Stock Performance

Shares of AZO traded down $172.13 during midday trading on Friday, hitting $3,654.02. 209,922 shares of the stock were exchanged, compared to its average volume of 131,918. The firm has a market cap of $61.32 billion, a P/E ratio of 24.41, a P/E/G ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,916.81. The stock has a fifty day simple moving average of $3,531.36 and a 200 day simple moving average of $3,303.38.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. As a group, equities research analysts forecast 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.