AutoZone, Inc. (NYSE:AZO) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 16.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,694 shares of the company's stock after selling 1,729 shares during the quarter. Prudential Financial Inc. owned approximately 0.05% of AutoZone worth $27,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AZO. Cerity Partners LLC raised its position in shares of AutoZone by 21.9% during the 3rd quarter. Cerity Partners LLC now owns 3,292 shares of the company's stock worth $10,371,000 after acquiring an additional 592 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in AutoZone by 5.5% in the third quarter. Kingsview Wealth Management LLC now owns 154 shares of the company's stock valued at $484,000 after purchasing an additional 8 shares during the last quarter. Summit Trail Advisors LLC lifted its position in shares of AutoZone by 45.1% during the 3rd quarter. Summit Trail Advisors LLC now owns 148 shares of the company's stock worth $465,000 after buying an additional 46 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of AutoZone in the 3rd quarter valued at $712,000. Finally, Independent Advisor Alliance grew its position in shares of AutoZone by 11.1% in the 3rd quarter. Independent Advisor Alliance now owns 271 shares of the company's stock valued at $854,000 after buying an additional 27 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the sale, the chief executive officer now directly owns 163 shares in the company, valued at $619,401.63. The trade was a 92.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the firm's 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 transaction, the senior vice president now owns 50 shares of the company's stock, valued at $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,721 shares of company stock worth $24,609,331. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AZO. Argus downgraded shares of AutoZone from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Evercore ISI upped their target price on AutoZone from $3,525.00 to $3,700.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Raymond James reaffirmed a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, March 5th. Bank of America boosted their price objective on AutoZone from $3,600.00 to $3,700.00 and gave the company a "neutral" rating in a research note on Wednesday, March 5th. Finally, Wedbush reiterated an "outperform" rating and issued a $3,700.00 price target on shares of AutoZone in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $3,683.36.

AutoZone Stock Performance

NYSE:AZO traded up $52.17 during trading hours on Monday, hitting $3,823.17. The company's stock had a trading volume of 37,844 shares, compared to its average volume of 129,908. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,844.83. The business's 50-day moving average is $3,483.80 and its two-hundred day moving average is $3,280.69. The company has a market capitalization of $64.16 billion, a PE ratio of 25.50, a PEG ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.98 billion. As a group, analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.