State of Tennessee Department of Treasury Reduces Stock Position in AutoZone, Inc. (NYSE:AZO)

State of Tennessee Department of Treasury trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,550 shares of the company’s stock after selling 256 shares during the period. State of Tennessee Department of Treasury’s holdings in AutoZone were worth $17,771,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the business’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 sale, the senior vice president now directly owns 50 shares of the company’s stock, valued at $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 is available through this link. Also, VP Dennis W. Leriche sold 1,575 shares of the firm’s 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 completion of the sale, the vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 6,721 shares of company stock worth $24,609,331. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Guggenheim increased their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. BMO Capital Markets increased their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. DA Davidson raised shares of AutoZone from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $3,500.00 to $4,192.00 in a research report on Friday, March 21st. Bank of America raised their target price on AutoZone from $3,600.00 to $3,700.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Finally, Truist Financial boosted their price target on AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,724.00.

AutoZone Price Performance

NYSE:AZO opened at $3,676.16 on Wednesday. The company has a market cap of $61.69 billion, a price-to-earnings ratio of 24.56, a PEG 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. The stock’s 50 day simple moving average is $3,580.35 and its two-hundred day simple moving average is $3,349.79.

AutoZone (NYSE:AZO) last released 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). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. As a group, analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current 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.