Nutshell Asset Management Ltd Acquires New Holdings in AutoZone, Inc. (NYSE:AZO)

Nutshell Asset Management Ltd acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,739 shares of the company's stock, valued at approximately $8,770,000. AutoZone makes up approximately 5.5% of Nutshell Asset Management Ltd's portfolio, making the stock its 7th biggest position.

A number of other institutional investors also recently modified their holdings of AZO. Centiva Capital LP purchased a new position in shares of AutoZone during the third quarter valued at approximately $570,000. Janus Henderson Group PLC boosted its holdings in AutoZone by 5.2% during the 3rd quarter. Janus Henderson Group PLC now owns 13,257 shares of the company's stock worth $41,767,000 after acquiring an additional 650 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of AutoZone by 4.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 180 shares of the company's stock worth $567,000 after acquiring an additional 8 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of AutoZone by 63.0% in the third quarter. IHT Wealth Management LLC now owns 119 shares of the company's stock valued at $376,000 after purchasing an additional 46 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its position in AutoZone by 1.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 8,035 shares of the company's stock worth $25,311,000 after purchasing an additional 106 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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AutoZone Stock Performance

Shares of AutoZone stock traded up $34.47 during midday trading on Thursday, reaching $3,609.59. 83,885 shares of the company's stock traded hands, compared to its average volume of 132,788. The company has a market cap of $60.58 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. The stock has a 50 day moving average of $3,548.93 and a 200-day moving average of $3,318.05. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last posted its 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). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.98 billion. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction 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 $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the sale, the senior vice president now owns 403 shares in the company, valued at approximately $1,430,682.24. This trade represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,721 shares of company stock worth $24,609,331 over the last three months. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AZO shares. Bank of America increased their price target 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. Morgan Stanley raised their price objective on shares of AutoZone from $3,490.00 to $3,750.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Roth Mkm boosted their target price on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Wedbush reaffirmed an "outperform" rating and issued a $3,700.00 price target on shares of AutoZone in a report on Wednesday, March 5th. Finally, Citigroup raised their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $3,724.00.

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.