Raymond James Financial Inc. Invests $189.48 Million in AutoZone, Inc. (NYSE:AZO)

Raymond James Financial Inc. bought a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 59,176 shares of the company's stock, valued at approximately $189,483,000. Raymond James Financial Inc. owned approximately 0.35% of AutoZone as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AZO. Capital Performance Advisors LLP acquired a new stake in AutoZone during the third quarter worth about $36,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone during the 3rd quarter worth approximately $47,000. Crews Bank & Trust bought a new position in AutoZone in the fourth quarter valued at approximately $61,000. McIlrath & Eck LLC raised its position in AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after purchasing an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in AutoZone during the third quarter valued at approximately $66,000. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Down 3.5 %

AZO traded down $128.17 on Tuesday, hitting $3,561.95. The company's stock had a trading volume of 208,078 shares, compared to its average volume of 127,408. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,704.43. The firm has a market cap of $59.78 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The company's 50 day simple moving average is $3,375.95 and its 200-day simple moving average is $3,233.66.

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AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Mizuho lifted their price target on AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lifted their target price on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Wedbush restated an "outperform" rating and issued a $3,700.00 price target on shares of AutoZone in a research report on Wednesday, March 5th. Guggenheim lifted their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, DA Davidson increased their price objective on AutoZone from $3,350.00 to $3,500.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $3,651.91.

Insider Buying and Selling

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now owns 50 shares in the company, valued at $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by company insiders.

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.