Wealthfront Advisers LLC Increases Holdings in AutoZone, Inc. (NYSE:AZO)

Wealthfront Advisers LLC lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 6,083.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,656 shares of the company’s stock after acquiring an additional 89,190 shares during the quarter. Wealthfront Advisers LLC owned 0.54% of AutoZone worth $290,281,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC raised its position in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after purchasing an additional 419,375 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of AutoZone during the 4th quarter worth approximately $471,629,000. The Manufacturers Life Insurance Company raised its position in shares of AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of AutoZone during the 4th quarter worth approximately $189,483,000. Finally, Canoe Financial LP raised its position in shares of AutoZone by 542.8% during the 4th quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after purchasing an additional 52,753 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AZO. Raymond James restated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. DA Davidson boosted their price target on AutoZone from $3,350.00 to $3,500.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Mizuho boosted their price target on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Finally, TD Cowen boosted their price target on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,651.91.

AutoZone Trading Up 1.9 %

Shares of AutoZone stock opened at $3,685.10 on Tuesday. The company has a fifty day moving average price of $3,375.95 and a 200 day moving average price of $3,233.66. 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 cap of $61.84 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $3.98 billion. Analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at $177,500. This represents a 76.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

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.