Renaissance Technologies LLC Sells 11,500 Shares of AutoZone, Inc. (NYSE:AZO)

Renaissance Technologies LLC lowered its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,200 shares of the company's stock after selling 11,500 shares during the period. Renaissance Technologies LLC owned 0.29% of AutoZone worth $157,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of AutoZone by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company's stock valued at $1,326,545,000 after purchasing an additional 7,365 shares in the last quarter. Proficio Capital Partners LLC increased its position in 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 buying an additional 419,375 shares during the last quarter. Norges Bank bought a new position in AutoZone during the fourth quarter valued at about $834,556,000. PineStone Asset Management Inc. lifted its position in shares of AutoZone by 6.9% in the fourth quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company's stock worth $683,867,000 after buying an additional 13,771 shares during the last quarter. Finally, Marshfield Associates boosted its stake in shares of AutoZone by 0.5% during the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company's stock worth $534,204,000 after acquiring an additional 796 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on AZO shares. Evercore ISI boosted their target price on AutoZone from $3,525.00 to $3,700.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Bank of America lifted their price target on shares of AutoZone from $3,600.00 to $3,700.00 and gave the company a "neutral" rating in a research report on Wednesday, March 5th. UBS Group upped their price objective on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Truist Financial lifted their target price on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Wedbush restated an "outperform" rating and set a $3,700.00 price target on shares of AutoZone in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $3,724.00.

Insider Transactions at AutoZone

In other news, VP Dennis W. Leriche sold 1,575 shares of AutoZone stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the sale, the vice president now owns 417 shares in the company, valued at $1,501,200. The trade was a 79.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bailey L. Childress sold 160 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 50 shares in the company, valued at $177,500. This represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,721 shares of company stock worth $24,609,331. Insiders own 2.10% of the company's stock.

AutoZone Stock Up 1.1 %

AutoZone stock traded up $40.85 during mid-day trading on Friday, hitting $3,656.09. 144,421 shares of the company were exchanged, compared to its average volume of 133,377. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81. The business has a fifty day moving average of $3,556.50 and a 200 day moving average of $3,326.80. The company 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 (NYSE:AZO - Get Free Report) last posted its earnings results 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). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. Research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current 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.