AutoZone, Inc. (NYSE:AZO) Stock Position Increased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 25.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,657 shares of the company’s stock after acquiring an additional 948 shares during the period. AutoZone makes up about 1.4% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 27th largest position. Sawgrass Asset Management LLC’s holdings in AutoZone were worth $12,041,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rock Creek Group LP acquired a new stake in AutoZone during the third quarter valued at approximately $25,000. ORG Partners LLC purchased a new position in shares of AutoZone during the 3rd quarter valued at $43,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of AutoZone in the third quarter worth $51,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter worth $54,000. Finally, Buck Wealth Strategies LLC purchased a new position in AutoZone in the third quarter valued at about $64,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Trading Down 0.9 %

AZO stock traded down $28.13 during trading on Wednesday, reaching $2,962.52. 80,952 shares of the stock were exchanged, compared to its average volume of 150,585. The stock has a 50 day simple moving average of $3,056.63 and a 200-day simple moving average of $2,795.11. The company has a market capitalization of $51.31 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72. AutoZone, Inc. has a twelve month low of $2,277.88 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the previous year, the business posted $24.64 earnings per share. AutoZone’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts predict that AutoZone, Inc. will post 152.4 EPS for the current year.

Insider Activity

In related news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the transaction, the vice president now owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Eric S. Gould sold 2,100 shares of AutoZone stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the vice president now directly owns 910 shares of the company’s stock, valued at approximately $2,912,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the sale, the vice president now directly owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,990 shares of company stock worth $50,335,193. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AZO. Citigroup reduced their price target on AutoZone from $3,505.00 to $3,420.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group boosted their target price on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Barclays increased their price target on shares of AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Wedbush lifted their price objective on shares of AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, Evercore ISI lowered their target price on shares of AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3,108.83.

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.