Okabena Investment Services Inc. Buys New Position in AutoZone, Inc. (NYSE:AZO)

Okabena Investment Services Inc. bought a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 761 shares of the company's stock, valued at approximately $2,437,000. AutoZone comprises about 0.7% of Okabena Investment Services Inc.'s holdings, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZO. Proficio Capital Partners LLC grew its holdings in shares of AutoZone by 482,040.2% during the fourth 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 during the last quarter. Norges Bank purchased a new position in AutoZone during the 4th quarter worth approximately $834,556,000. Strategic Financial Concepts LLC acquired a new position in AutoZone during the fourth quarter worth approximately $471,629,000. Wealthfront Advisers LLC lifted its stake in AutoZone by 6,083.9% in the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock valued at $290,281,000 after buying an additional 89,190 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in AutoZone in the fourth quarter valued at approximately $189,483,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

AZO stock traded down $10.54 during trading on Wednesday, reaching $3,802.73. 43,694 shares of the company were exchanged, compared to its average volume of 126,583. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,842.82. The company has a market cap of $63.82 billion, a P/E ratio of 25.41, a PEG ratio of 1.86 and a beta of 0.71. The stock's 50 day moving average price is $3,506.05 and its 200 day moving average price is $3,290.64.

Remove Ads

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $3.95 billion during 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%. As a group, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Bank of America lifted their target price on shares of AutoZone from $3,600.00 to $3,700.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. Wells Fargo & Company lifted their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Wedbush reaffirmed an "outperform" rating and issued a $3,700.00 target price on shares of AutoZone in a report on Wednesday, March 5th. Roth Mkm raised their price target on AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, TD Cowen upped their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $3,724.00.

Insider Activity

In other AutoZone 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 value of $10,288,500.00. Following the sale, the vice president now owns 2,924 shares of the company's stock, valued at $10,555,640. This represents a 49.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following 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. Insiders sold a total of 6,721 shares of company stock worth $24,609,331 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Company Profile

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.