AutoZone, Inc. (NYSE:AZO) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 901 shares of the company's stock after selling 86 shares during the period. Maryland State Retirement & Pension System's holdings in AutoZone were worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in AZO. 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 worth $1,343,117,000 after purchasing an additional 419,375 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $471,629,000. Wealthfront Advisers LLC lifted its position in AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after buying an additional 89,190 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after buying an additional 60,483 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in AutoZone in the 4th quarter valued at $189,483,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AutoZone

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the sale, the senior vice president now directly owns 50 shares of the company's stock, valued at approximately $177,500. This represents a 76.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Richard Craig Smith sold 2,850 shares of AutoZone stock in a transaction 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 directly owns 2,924 shares of the company's stock, valued at approximately $10,555,640. This trade represents a 49.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,721 shares of company stock valued at $17,009,311. 2.10% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. 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 report on Wednesday, March 5th. Roth Mkm lifted their target price on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Morgan Stanley increased their price target on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Raymond James restated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, March 5th. Finally, Argus cut AutoZone from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $3,683.36.

AutoZone Stock Up 0.5 %

AZO stock traded up $17.67 during midday trading on Tuesday, hitting $3,675.49. The company's stock had a trading volume of 135,248 shares, compared to its average volume of 126,328. The firm has a 50-day simple moving average of $3,441.73 and a 200-day simple moving average of $3,263.12. The firm has a market capitalization of $61.68 billion, a P/E ratio of 24.56, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43.

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