1ST Source Bank Makes New Investment in AutoZone, Inc. (NYSE:AZO)

1ST Source Bank purchased a new position in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 63 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in AutoZone by 1.8% in the third quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after acquiring an additional 7,365 shares during the period. Proficio Capital Partners LLC raised its position in 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 acquiring an additional 419,375 shares during the period. PineStone Asset Management Inc. raised its position in AutoZone by 6.9% in the fourth quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock worth $683,867,000 after acquiring an additional 13,771 shares during the period. Marshfield Associates raised its position in AutoZone by 0.5% in the third quarter. Marshfield Associates now owns 169,586 shares of the company’s stock worth $534,204,000 after acquiring an additional 796 shares during the period. Finally, Baillie Gifford & Co. raised its position in AutoZone by 35.6% in the fourth quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock worth $522,211,000 after acquiring an additional 42,776 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Transactions at AutoZone

In other news, SVP K. Michelle Borninkhof sold 136 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total value of $482,810.88. Following the completion of the sale, the senior vice president now owns 403 shares in the company, valued at approximately $1,430,682.24. This trade represents a 25.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the sale, the senior vice president now owns 50 shares of the company’s stock, valued at $177,500. This trade represents a 76.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,871 shares of company stock worth $6,720,811. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AZO has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and issued a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, March 5th. Raymond James reissued a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, March 5th. UBS Group increased their price objective on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Citigroup increased their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, BMO Capital Markets increased their price objective on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,651.91.

AutoZone Stock Up 1.8 %

Shares of NYSE:AZO opened at $3,620.16 on Tuesday. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,704.43. The stock has a market capitalization of $60.75 billion, a P/E ratio of 24.19, a PEG ratio of 1.86 and a beta of 0.71. The firm has a fifty day simple moving average of $3,408.03 and a two-hundred day simple moving average of $3,247.36.

AutoZone (NYSE:AZO) last released its earnings results 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 during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, 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.