AutoZone, Inc. (NYSE:AZO) Shares Sold by West Paces Advisors Inc.

West Paces Advisors Inc. trimmed its position in AutoZone, Inc. (NYSE:AZO) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27 shares of the company’s stock after selling 4 shares during the period. West Paces Advisors Inc.’s holdings in AutoZone were worth $103,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Colonial Trust Co SC boosted its holdings in AutoZone by 24.5% in the 4th quarter. Colonial Trust Co SC now owns 61 shares of the company’s stock worth $197,000 after buying an additional 12 shares during the last quarter. Comerica Bank boosted its holdings in AutoZone by 5.4% in the 4th quarter. Comerica Bank now owns 4,262 shares of the company’s stock worth $13,647,000 after buying an additional 217 shares during the last quarter. Barclays PLC boosted its holdings in AutoZone by 82.6% in the 4th quarter. Barclays PLC now owns 170,216 shares of the company’s stock worth $545,033,000 after buying an additional 77,015 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in AutoZone by 13.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 66,016 shares of the company’s stock worth $211,383,000 after buying an additional 7,586 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in AutoZone by 41.1% in the 4th quarter. Russell Investments Group Ltd. now owns 73,044 shares of the company’s stock worth $233,718,000 after buying an additional 21,266 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AZO. Evercore ISI set a $3,950.00 price objective on AutoZone in a report on Monday, May 19th. The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Guggenheim raised their target price on shares of AutoZone from $3,850.00 to $4,100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Wedbush reissued an “outperform” rating and issued a $3,700.00 target price on shares of AutoZone in a research note on Wednesday, March 5th. Finally, Oppenheimer raised shares of AutoZone from a “market perform” rating to an “outperform” rating and set a $4,600.00 target price on the stock in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $4,072.24.

AutoZone Stock Performance

AZO stock opened at $3,692.96 on Tuesday. The firm has a market cap of $61.98 billion, a PE ratio of 24.67, a PEG ratio of 1.86 and a beta of 0.40. The firm’s 50 day moving average price is $3,691.41 and its 200-day moving average price is $3,497.21. AutoZone, Inc. has a one year low of $2,765.82 and a one year high of $3,916.81.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the business posted $36.69 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Activity at AutoZone

In related news, CFO Jamere Jackson sold 2,612 shares of AutoZone stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the sale, the chief financial officer now owns 427 shares in the company, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the sale, the chief executive officer now owns 163 shares of the company’s stock, valued at $619,401.63. This trade represents a 92.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,262 shares of company stock worth $45,194,187. Insiders own 2.10% of the company’s stock.

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.