Te Ahumairangi Investment Management Ltd Sells 375 Shares of AutoZone, Inc. (NYSE:AZO)

Te Ahumairangi Investment Management Ltd lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 39.9% during the 4th quarter, according to its most recent filing 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.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in AutoZone during the fourth quarter valued at approximately $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of AutoZone in the 4th quarter worth $32,000. Harbour Investments Inc. raised its holdings in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the period. Crews Bank & Trust bought a new position in shares of AutoZone in the fourth quarter worth about $61,000. Finally, McIlrath & Eck LLC raised its stake in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after acquiring an additional 4 shares during the period. Institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 0.0 %

Shares of AZO opened at $3,812.19 on Wednesday. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,842.82. The stock has a fifty day moving average price of $3,506.05 and a 200-day moving average price of $3,290.64. The firm has a market cap of $63.98 billion, a PE ratio of 25.47, a P/E/G ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. As a group, research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Transactions at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares in the company, valued at $177,500. The trade was a 76.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the transaction, the chief executive officer now owns 163 shares of the company’s stock, valued at approximately $619,401.63. This trade represents a 92.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,721 shares of company stock worth $24,609,331 over the last three months. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wedbush restated an “outperform” rating and issued a $3,700.00 price objective on shares of AutoZone in a research report on Wednesday, March 5th. Bank of America increased their price objective on shares of AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Roth Mkm lifted their target price on AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Morgan Stanley lifted their price target on shares of AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upped their price objective on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3,724.00.

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.