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

Freedom Investment Management Inc. cut its holdings in AutoZone, Inc. (NYSE:AZO) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund 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 reporting period.

A number of other large investors also recently made changes to their positions in the business. Proficio Capital Partners LLC increased its stake in 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 last quarter. Norges Bank purchased a new stake in AutoZone in the fourth quarter valued at approximately $834,556,000. PineStone Asset Management Inc. increased its position in AutoZone by 6.9% during the fourth quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock worth $683,867,000 after purchasing an additional 13,771 shares during the last quarter. Barclays PLC boosted its holdings in shares of AutoZone by 82.6% in the 4th quarter. Barclays PLC now owns 170,216 shares of the company’s stock valued at $545,033,000 after purchasing an additional 77,015 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of AutoZone by 35.6% during the 4th quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock valued at $522,211,000 after buying an additional 42,776 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $3,601.29 on Friday. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,916.81. The company has a fifty day moving average price of $3,573.52 and a two-hundred day moving average price of $3,341.79. The company has a market cap of $60.44 billion, a PE ratio of 24.06, a P/E/G ratio of 1.86 and a beta of 0.54.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on AZO shares. Evercore ISI boosted their price target on AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Wedbush reaffirmed an “outperform” rating and set a $3,700.00 price target on shares of AutoZone in a research report on Wednesday, March 5th. DA Davidson raised shares of AutoZone from a “neutral” rating to a “buy” rating and raised their target price for the company from $3,500.00 to $4,192.00 in a research note on Friday, March 21st. Roth Capital set a $3,763.00 price target on AutoZone in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upped their target price on AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,724.00.

Insider Buying and Selling at AutoZone

In other 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 transaction of $568,000.00. Following the completion of the transaction, the senior vice president now owns 50 shares of the company’s stock, valued at approximately $177,500. The trade was a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction, the chief executive officer now owns 163 shares of the company’s stock, valued at $619,401.63. This 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 ninety days. Company insiders own 2.10% of the company’s stock.

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.