AutoZone, Inc. (NYSE:AZO) Stock Holdings Lowered by Renaissance Group LLC

Renaissance Group LLC cut its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 54.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150 shares of the company's stock after selling 180 shares during the quarter. Renaissance Group LLC's holdings in AutoZone were worth $480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AZO. Headlands Technologies LLC purchased a new stake in shares of AutoZone during the 4th quarter valued at about $29,000. Flagship Wealth Advisors LLC acquired a new stake in AutoZone in the fourth quarter valued at approximately $32,000. Harbour Investments Inc. raised its stake in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after purchasing an additional 3 shares during the period. Crews Bank & Trust purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $61,000. Finally, McIlrath & Eck LLC boosted its stake in shares of AutoZone by 25.0% in 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 during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In related news, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the sale, the chief executive officer now owns 163 shares of the company's stock, valued at $619,401.63. The trade was a 92.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value 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. The trade was a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,721 shares of company stock valued at $24,609,331 in the last quarter. Corporate insiders own 2.10% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of AutoZone from $3,600.00 to $3,700.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 5th. Guggenheim lifted their target price on AutoZone from $3,750.00 to $3,850.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Wedbush reissued an "outperform" rating and issued a $3,700.00 price target on shares of AutoZone in a report on Wednesday, March 5th. UBS Group lifted their price objective on AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Mizuho raised their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Five investment 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 company's stock. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and an average price target of $3,724.00.

AutoZone Price Performance

Shares of AZO stock traded up $40.85 during trading hours on Friday, reaching $3,656.09. The stock had a trading volume of 144,421 shares, compared to its average volume of 133,434. The firm has a 50-day simple moving average of $3,556.50 and a 200-day simple moving average of $3,325.86. The firm has a market capitalization of $61.36 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last released 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). The business 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%. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

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.