Principal Financial Group Inc. Increases Holdings in AutoZone, Inc. (NYSE:AZO)

Principal Financial Group Inc. lifted its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,907 shares of the company's stock after purchasing an additional 360 shares during the period. Principal Financial Group Inc. owned about 0.13% of AutoZone worth $69,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in AutoZone in the 3rd quarter valued at approximately $36,000. Meeder Asset Management Inc. increased its holdings in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company's stock valued at $44,000 after purchasing an additional 5 shares during the period. Carolina Wealth Advisors LLC bought a new position in AutoZone during the 3rd quarter worth $47,000. Darwin Wealth Management LLC acquired a new position in AutoZone during the 3rd quarter worth about $47,000. Finally, McIlrath & Eck LLC grew its position in shares of AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after buying an additional 4 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Price Performance

Shares of AZO traded up $38.18 during trading hours on Friday, hitting $3,253.47. The company's stock had a trading volume of 267,236 shares, compared to its average volume of 139,940. The company has a market cap of $55.00 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.73 and a beta of 0.71. The business has a 50 day simple moving average of $3,171.99 and a two-hundred day simple moving average of $3,084.67. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,416.71.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the firm posted $32.55 earnings per share. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts predict that AutoZone, Inc. will post 154.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AZO shares. Redburn Atlantic raised shares of AutoZone to a "strong-buy" rating in a research note on Tuesday, October 1st. Evercore ISI lifted their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Roth Mkm reiterated a "buy" rating and issued a $3,634.00 target price on shares of AutoZone in a report on Wednesday, October 16th. Mizuho lifted their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Finally, Guggenheim upped their price objective on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, AutoZone presently has an average rating of "Moderate Buy" and a consensus target price of $3,384.89.

Insider Buying and Selling

In other news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the business's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the transaction, the chairman now directly owns 13,857 shares of the company's stock, valued at $43,055,777.55. The trade was a 48.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,880 shares of company stock valued at $46,225,660. Company insiders own 2.10% of the company's stock.

AutoZone 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.