Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,682 shares of the company's stock after buying an additional 71 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in AutoZone were worth $11,790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Darwin Wealth Management LLC purchased a new position in shares of AutoZone during the third quarter worth $47,000. Crews Bank & Trust purchased a new position in shares of AutoZone during the 4th quarter valued at about $61,000. McIlrath & Eck LLC lifted its holdings in shares of AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after buying an additional 4 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of AutoZone in the third quarter worth about $66,000. Finally, Whipplewood Advisors LLC acquired a new stake in AutoZone during the fourth quarter worth about $67,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Bailey L. Childress sold 160 shares of the business's stock in a transaction 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 completion of the sale, the senior vice president now directly owns 50 shares of the company's stock, valued at $177,500. The trade was a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the firm's stock in a transaction dated 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. The trade was a 25.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,871 shares of company stock worth $6,720,811. Corporate insiders own 2.10% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have issued reports on AZO shares. JPMorgan Chase & Co. boosted their price target on AutoZone from $3,775.00 to $3,830.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Evercore ISI boosted their target price on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. Argus cut shares of AutoZone from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Truist Financial raised their target price on AutoZone from $3,753.00 to $3,841.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, 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 research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $3,651.91.

AutoZone Stock Performance

Shares of AZO traded down $8.54 during mid-day trading on Thursday, hitting $3,538.59. 158,430 shares of the company's stock were exchanged, compared to its average volume of 127,195. The stock's 50-day moving average is $3,395.79 and its 200-day moving average is $3,240.97. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,704.43. The company has a market cap of $59.38 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last released 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). The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS 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.