Sagespring Wealth Partners LLC Purchases Shares of 151 AutoZone, Inc. (NYSE:AZO)

Sagespring Wealth Partners LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 151 shares of the company's stock, valued at approximately $484,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its holdings in AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after buying an additional 419,375 shares in the last quarter. Norges Bank purchased a new position in AutoZone in the 4th quarter valued at approximately $834,556,000. Strategic Financial Concepts LLC purchased a new position in AutoZone in the 4th quarter valued at approximately $471,629,000. Wealthfront Advisers LLC raised its holdings in 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 purchasing an additional 89,190 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in AutoZone during the fourth quarter worth $189,483,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AZO shares. DA Davidson upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $3,500.00 to $4,192.00 in a research report on Friday, March 21st. BMO Capital Markets increased their target price on AutoZone from $3,700.00 to $3,850.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Barclays boosted their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. Argus cut AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Roth Mkm upped their target price on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating 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 stock. According to MarketBeat, AutoZone presently has a consensus rating of "Moderate Buy" and an average target price of $3,724.00.

Insider Buying and Selling at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of the company's stock in a transaction dated 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 sale, the senior vice president now owns 50 shares in the company, valued at approximately $177,500. This represents a 76.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total value of $482,810.88. Following the transaction, the senior vice president now directly owns 403 shares in the company, valued at approximately $1,430,682.24. This represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,721 shares of company stock valued at $24,609,331 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

AutoZone Price Performance

AZO stock traded down $45.17 during midday trading on Monday, reaching $3,558.30. 20,875 shares of the company's stock traded hands, compared to its average volume of 132,240. The business has a 50-day moving average price of $3,573.52 and a two-hundred day moving average price of $3,343.71. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,916.81. The company has a market capitalization of $59.72 billion, a P/E ratio of 23.80, a PEG ratio of 1.86 and a beta of 0.54.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.98 billion. As a group, research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share 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.