Rafferty Asset Management LLC Raises Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Rafferty Asset Management LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,694 shares of the company’s stock after acquiring an additional 150 shares during the quarter. Rafferty Asset Management LLC’s holdings in AutoZone were worth $5,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $32,000. Harbour Investments Inc. increased its position in shares of AutoZone by 42.9% during 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 last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $45,000. Finally, Itau Unibanco Holding S.A. increased its position in shares of AutoZone by 750.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company’s stock valued at $54,000 after acquiring an additional 15 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 136 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total value of $482,810.88. Following the sale, the senior vice president now owns 403 shares in the company, valued at approximately $1,430,682.24. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 2,850 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the sale, the vice president now owns 2,924 shares in the company, valued at $10,555,640. The trade was a 49.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,521 shares of company stock worth $42,177,331. Corporate insiders own 2.10% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $3,779.98 on Friday. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,916.81. The business has a fifty day moving average price of $3,658.37 and a 200-day moving average price of $3,420.58. The firm has a market capitalization of $63.44 billion, a P/E ratio of 25.25, a PEG ratio of 1.86 and a beta of 0.44.

AutoZone (NYSE:AZO) last issued its quarterly earnings data 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 negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company increased their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. StockNews.com raised AutoZone from a “hold” rating to a “buy” rating in a report on Wednesday. Wedbush reissued an “outperform” rating and set a $3,700.00 price objective on shares of AutoZone in a report on Wednesday, March 5th. The Goldman Sachs Group raised AutoZone from a “sell” rating to a “neutral” rating and increased their price objective for the company from $3,044.00 to $3,811.00 in a report on Tuesday, April 1st. Finally, Mizuho increased their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $3,821.91.

AutoZone 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.