Treasurer of the State of North Carolina Trims Stock Position in AutoZone, Inc. (NYSE:AZO)

Treasurer of the State of North Carolina reduced its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,766 shares of the company's stock after selling 126 shares during the period. Treasurer of the State of North Carolina's holdings in AutoZone were worth $24,867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in AutoZone during the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC purchased a new stake in AutoZone in the 4th quarter valued at $32,000. Harbour Investments Inc. boosted its stake in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after purchasing an additional 3 shares during the period. Crews Bank & Trust purchased a new stake in shares of AutoZone in the fourth quarter valued at about $61,000. Finally, McIlrath & Eck LLC raised its stake in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after acquiring an additional 4 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Trading Up 0.5 %

NYSE AZO traded up $18.69 during mid-day trading on Monday, reaching $3,678.29. 118,253 shares of the company's stock traded hands, compared to its average volume of 133,316. The company has a fifty day simple moving average of $3,556.50 and a 200-day simple moving average of $3,326.80. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81. The company has a market cap of $61.73 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 1.86 and a beta of 0.54.

Remove Ads

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

Wall Street Analyst Weigh In

AZO has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. TD Cowen raised their target price on AutoZone from $3,450.00 to $3,800.00 and gave the company a "buy" rating in a report on Monday, December 16th. Roth Mkm upped their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Wedbush reiterated an "outperform" rating and issued a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, March 5th. Finally, Guggenheim upped their price target on AutoZone from $3,750.00 to $3,850.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, AutoZone presently has an average rating of "Moderate Buy" and a consensus price target of $3,724.00.

Insider Buying and Selling

In related news, CEO Philip B. Daniele sold 2,000 shares of the firm'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 value of $7,600,020.00. Following the sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the business's 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 value of $568,000.00. Following the transaction, the senior vice president now owns 50 shares of the company's stock, valued at $177,500. This represents a 76.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,721 shares of company stock worth $24,609,331 over the last ninety days. 2.10% of the stock is owned by insiders.

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.