AutoZone, Inc. (NYSE:AZO) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 214 shares of the company’s stock after selling 11 shares during the period. Freedom Investment Management Inc.’s holdings in AutoZone were worth $685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake 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 valued at $1,343,117,000 after purchasing an additional 419,375 shares during the period. Norges Bank purchased a new position in AutoZone in the 4th quarter valued at approximately $834,556,000. Strategic Financial Concepts LLC acquired a new position in shares of AutoZone in the fourth quarter worth $471,629,000. Wealthfront Advisers LLC increased its position in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock worth $290,281,000 after acquiring an additional 89,190 shares during the period. Finally, Barclays PLC raised its stake in shares of AutoZone by 82.6% in the fourth quarter. Barclays PLC now owns 170,216 shares of the company’s stock valued at $545,033,000 after acquiring an additional 77,015 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In other news, VP Dennis W. Leriche sold 1,575 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the sale, the vice president now directly owns 417 shares in the company, valued at $1,501,200. This represents a 79.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the firm’s 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 transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,721 shares of company stock valued at $24,609,331 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AZO has been the subject of a number of analyst reports. Raymond James reissued a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, March 5th. Roth Mkm lifted their price objective on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Evercore ISI increased their target price on AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. UBS Group lifted their price target on AutoZone from $3,875.00 to $4,025.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, Bank of America increased their price objective on AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Five investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3,724.00.

AutoZone Price Performance

AutoZone stock opened at $3,601.29 on Friday. The stock’s 50 day moving average price is $3,573.52 and its 200 day moving average price is $3,341.79. The company has a market cap of $60.44 billion, a PE ratio of 24.06, a price-to-earnings-growth 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) last announced 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 company had revenue of $3.95 billion during 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%. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal 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.