AutoZone, Inc. (NYSE:AZO) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 41.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,044 shares of the company's stock after acquiring an additional 21,266 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.44% of AutoZone worth $233,718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Proficio Capital Partners LLC grew its holdings in shares of AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock worth $1,343,117,000 after purchasing an additional 419,375 shares during the last quarter. Norges Bank purchased a new stake in AutoZone in the 4th quarter valued at about $834,556,000. Strategic Financial Concepts LLC bought a new position in AutoZone in the 4th quarter worth about $471,629,000. Wealthfront Advisers LLC increased its position in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after acquiring an additional 89,190 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of AutoZone during the fourth quarter worth approximately $189,483,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on AZO shares. BMO Capital Markets increased their price objective on AutoZone from $3,700.00 to $3,850.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Bank of America increased their price target on AutoZone from $3,600.00 to $3,700.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. TD Cowen lifted their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the company a "buy" rating in a report on Monday, December 16th. Citigroup increased their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, Mizuho boosted their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $3,724.00.

Remove Ads

Insider Buying and Selling at AutoZone

In other AutoZone news, CEO Philip B. Daniele sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the transaction, the chief executive officer now directly owns 163 shares of the company's stock, valued at approximately $619,401.63. This trade represents a 92.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard Craig Smith sold 2,850 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the completion of the sale, the vice president now directly owns 2,924 shares in the company, valued at $10,555,640. This trade represents a 49.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,721 shares of company stock worth $24,609,331. 2.10% of the stock is currently owned by insiders.

AutoZone Stock Performance

AZO stock traded down $173.69 during trading on Monday, reaching $3,479.55. The company had a trading volume of 311,746 shares, compared to its average volume of 132,643. The company has a market cap of $58.39 billion, a price-to-earnings ratio of 23.25, 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. The firm has a 50-day simple moving average of $3,533.54 and a 200-day simple moving average of $3,308.09.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $3.98 billion. Sell-side analysts expect 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.