Wells Fargo & Company MN Decreases Position in AutoZone, Inc. (NYSE:AZO)

Wells Fargo & Company MN trimmed its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,151 shares of the company's stock after selling 3,533 shares during the period. Wells Fargo & Company MN owned about 0.16% of AutoZone worth $83,733,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pittenger & Anderson Inc. raised its position in AutoZone by 5.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 61 shares of the company's stock valued at $195,000 after purchasing an additional 3 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its position in shares of AutoZone by 2.0% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company's stock valued at $487,000 after acquiring an additional 3 shares in the last quarter. PDS Planning Inc grew its holdings in shares of AutoZone by 2.3% in the fourth quarter. PDS Planning Inc now owns 132 shares of the company's stock valued at $423,000 after purchasing an additional 3 shares during the period. Harbour Investments Inc. boosted its position in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after buying an additional 3 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in shares of AutoZone by 0.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock worth $1,188,000 after buying an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Mizuho raised their price target on AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Bank of America lifted their price target on AutoZone from $3,600.00 to $3,700.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. Barclays lifted their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. Finally, Roth Capital set a $3,763.00 price objective on AutoZone in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $3,724.00.

AutoZone Price Performance

AutoZone stock traded up $40.85 during trading hours on Friday, hitting $3,656.09. The stock had a trading volume of 144,421 shares, compared to its average volume of 133,377. The stock's fifty day moving average is $3,556.50 and its two-hundred day moving average is $3,326.80. The stock has a market capitalization of $61.36 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 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 business had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.98 billion. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Buying and Selling

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the company's stock in a transaction 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 sale, the senior vice president now directly owns 50 shares of the company's stock, valued at approximately $177,500. This represents a 76.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of AutoZone 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 sale, the senior vice president now directly owns 403 shares of the company's stock, valued at approximately $1,430,682.24. The trade was a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,721 shares of company stock worth $24,609,331. Corporate insiders own 2.10% of the company's stock.

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.