Summit Global Investments Sells 5 Shares of AutoZone, Inc. (NYSE:AZO)

Summit Global Investments lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 182 shares of the company’s stock after selling 5 shares during the period. Summit Global Investments’ holdings in AutoZone were worth $583,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. boosted its stake in AutoZone by 171.1% during the fourth quarter. Whittier Trust Co. now owns 122 shares of the company’s stock valued at $391,000 after buying an additional 77 shares during the last quarter. Condor Capital Management boosted its position in shares of AutoZone by 0.9% during the 4th quarter. Condor Capital Management now owns 887 shares of the company’s stock valued at $2,840,000 after acquiring an additional 8 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of AutoZone by 11,848.7% during the 4th quarter. Teacher Retirement System of Texas now owns 13,741 shares of the company’s stock valued at $43,999,000 after acquiring an additional 13,626 shares during the last quarter. Sandy Spring Bank boosted its position in shares of AutoZone by 6,528.6% during the 4th quarter. Sandy Spring Bank now owns 464 shares of the company’s stock valued at $1,486,000 after acquiring an additional 457 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in shares of AutoZone by 0.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 8,099 shares of the company’s stock valued at $25,933,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AZO. Barclays increased their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Citigroup increased their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Roth Mkm increased their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. TD Cowen raised their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, UBS Group raised their price objective on AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,683.36.

Insider Transactions at AutoZone

In related news, SVP K. Michelle Borninkhof sold 136 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the sale, the senior vice president now directly owns 403 shares in the company, valued at $1,430,682.24. This represents a 25.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the sale, the senior vice president now owns 50 shares of the company’s stock, valued at $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,721 shares of company stock valued at $17,009,311. Company insiders own 2.10% of the company’s stock.

AutoZone Trading Up 0.9 %

Shares of AZO stock opened at $3,605.88 on Monday. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,704.43. The stock has a market capitalization of $60.51 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 1.86 and a beta of 0.71. The stock has a fifty day simple moving average of $3,433.28 and a two-hundred day simple moving average of $3,259.40.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share 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. Research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.