Nippon Life Global Investors Americas Inc. Has $9.96 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Nippon Life Global Investors Americas Inc. cut its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,110 shares of the company's stock after selling 210 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in AutoZone were worth $9,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fayez Sarofim & Co raised its position in shares of AutoZone by 38.5% in the 4th quarter. Fayez Sarofim & Co now owns 277 shares of the company's stock valued at $887,000 after purchasing an additional 77 shares in the last quarter. Stifel Financial Corp raised its holdings in AutoZone by 2.2% in the fourth quarter. Stifel Financial Corp now owns 3,475 shares of the company's stock valued at $11,128,000 after acquiring an additional 76 shares in the last quarter. Optivise Advisory Services LLC bought a new position in AutoZone during the 4th quarter valued at $223,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of AutoZone by 9,014.3% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 638 shares of the company's stock valued at $2,045,000 after purchasing an additional 631 shares in the last quarter. Finally, Natixis bought a new position in shares of AutoZone during the fourth quarter worth about $285,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Stock Performance

AZO traded down $3.61 during trading on Friday, reaching $3,606.04. The company had a trading volume of 103,827 shares, compared to its average volume of 132,022. The firm's 50-day simple moving average is $3,591.32 and its 200 day simple moving average is $3,359.12. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,916.81. The company has a market cap of $60.52 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.86 and a beta of 0.54.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS 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 net margin of 14.18% and a negative return on equity of 53.89%. On average, sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on AZO shares. Roth Capital set a $3,763.00 target price on AutoZone in a report on Wednesday, March 5th. Barclays increased their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. UBS Group increased their price objective on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Guggenheim upped their target price on AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Truist Financial increased their price objective on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Five 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. According to data from MarketBeat.com, AutoZone has an average rating of "Moderate Buy" and an average price target of $3,724.00.

Insider Transactions at AutoZone

In other news, VP Richard Craig Smith sold 2,850 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were 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 owns 2,924 shares of the company's stock, valued at approximately $10,555,640. This represents a 49.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares of the company's stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,521 shares of company stock worth $42,177,331. 2.10% of the stock is owned by corporate insiders.

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.