Te Ahumairangi Investment Management Ltd Trims Position in AutoZone, Inc. (NYSE:AZO)

Te Ahumairangi Investment Management Ltd cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 39.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 566 shares of the company’s stock after selling 375 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in AutoZone were worth $1,812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AZO. Geode Capital Management LLC increased its holdings in AutoZone by 1.8% during the 3rd 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 increased its holdings in shares of 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 purchasing an additional 419,375 shares during the period. Norges Bank purchased a new stake in shares of AutoZone in the fourth quarter worth $834,556,000. PineStone Asset Management Inc. boosted its stake in AutoZone by 6.9% during the fourth quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock valued at $683,867,000 after buying an additional 13,771 shares during the period. Finally, Marshfield Associates grew its position in AutoZone by 0.5% during the third quarter. Marshfield Associates now owns 169,586 shares of the company’s stock worth $534,204,000 after buying an additional 796 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other AutoZone news, SVP K. Michelle Borninkhof sold 136 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the transaction, the senior vice president now owns 403 shares in the company, valued at approximately $1,430,682.24. This represents a 25.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction that occurred on 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 represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,721 shares of company stock worth $24,609,331 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,812.19 on Wednesday. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,842.82. The stock has a market capitalization of $63.98 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.86 and a beta of 0.71. The company’s 50-day moving average is $3,506.05 and its 200 day moving average is $3,290.64.

AutoZone (NYSE:AZO) last issued its quarterly 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 analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AZO shares. Citigroup lifted their price target on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Barclays increased their price target 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. Guggenheim raised their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Wedbush reissued an “outperform” rating and issued a $3,700.00 target price on shares of AutoZone in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $3,724.00.

AutoZone 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.