Hsbc Holdings PLC Decreases Stake in AutoZone, Inc. (NYSE:AZO)

Hsbc Holdings PLC cut its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 40.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,236 shares of the company's stock after selling 30,936 shares during the quarter. Hsbc Holdings PLC owned approximately 0.27% of AutoZone worth $144,715,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its holdings in shares of 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 purchasing an additional 419,375 shares in the last quarter. Norges Bank purchased a new position in AutoZone in the fourth quarter valued at $834,556,000. PineStone Asset Management Inc. lifted its holdings in AutoZone by 6.9% during the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company's stock worth $683,867,000 after buying an additional 13,771 shares during the last quarter. Barclays PLC boosted its position in shares of AutoZone by 82.6% during the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after acquiring an additional 77,015 shares in the last quarter. Finally, Baillie Gifford & Co. raised its position in shares of AutoZone by 35.6% during the 4th quarter. Baillie Gifford & Co. now owns 163,089 shares of the company's stock worth $522,211,000 after acquiring an additional 42,776 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wedbush reaffirmed an "outperform" rating and issued a $3,700.00 price target on shares of AutoZone in a report on Wednesday, March 5th. Argus cut shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. DA Davidson raised AutoZone from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $3,500.00 to $4,192.00 in a report on Friday, March 21st. Roth Capital set a $3,763.00 target price on AutoZone in a research report on Wednesday, March 5th. Finally, Bank of America upped their target price on AutoZone from $3,600.00 to $3,700.00 and gave the company a "neutral" rating in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, AutoZone has a consensus rating of "Moderate Buy" and an average price target of $3,724.00.

AutoZone Stock Performance

AZO opened at $3,676.16 on Wednesday. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,916.81. The company has a market cap of $61.69 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.86 and a beta of 0.54. The business's fifty day moving average is $3,580.35 and its two-hundred day moving average is $3,349.79.

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

Insider Buying and Selling at AutoZone

In related news, VP Richard Craig Smith sold 2,850 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the sale, the vice president now directly owns 2,924 shares in the company, valued at approximately $10,555,640. This represents a 49.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the chief executive officer now owns 163 shares of the company's stock, valued at approximately $619,401.63. This trade represents a 92.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,721 shares of company stock valued at $24,609,331. Company insiders own 2.10% of the company's stock.

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.

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