Frank Rimerman Advisors LLC Has $1.18 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Frank Rimerman Advisors LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 367 shares of the company’s stock after purchasing an additional 34 shares during the period. Frank Rimerman Advisors LLC’s holdings in AutoZone were worth $1,175,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its position in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after buying an additional 419,375 shares during the period. Strategic Financial Concepts LLC acquired a new position in AutoZone during the fourth quarter valued at approximately $471,629,000. Wealthfront Advisers LLC increased its stake in AutoZone by 6,083.9% in the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock valued at $290,281,000 after purchasing an additional 89,190 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of AutoZone during the fourth quarter worth $189,483,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of recent analyst reports. Mizuho upped their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Barclays increased their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Wells Fargo & Company lifted their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Roth Capital set a $3,763.00 target price on AutoZone in a research note on Wednesday, March 5th. Finally, Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $3,651.91.

Insider Transactions at AutoZone

In other AutoZone news, VP Dennis W. Leriche sold 1,575 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the transaction, the vice president now owns 417 shares of the company’s stock, valued at $1,501,200. The trade was a 79.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the firm’s stock in a transaction that occurred on 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 directly owns 403 shares of the company’s stock, valued at approximately $1,430,682.24. The trade was a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,871 shares of company stock worth $6,720,811 in the last ninety days. Insiders own 2.10% of the company’s stock.

AutoZone Stock Up 0.2 %

AZO stock opened at $3,553.69 on Friday. The company has a market cap of $59.64 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,704.43. The business has a 50 day moving average price of $3,401.49 and a two-hundred day moving average price of $3,244.10.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. 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.