Choate Investment Advisors Buys 19 Shares of AutoZone, Inc. (NYSE:AZO)

Choate Investment Advisors lifted its stake in AutoZone, Inc. (NYSE:AZO) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 295 shares of the company’s stock after buying an additional 19 shares during the quarter. Choate Investment Advisors’ holdings in AutoZone were worth $945,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in AutoZone during the third quarter valued at approximately $47,000. Crews Bank & Trust purchased a new position in shares of AutoZone during the 4th quarter valued at $61,000. McIlrath & Eck LLC lifted 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 buying an additional 4 shares in the last quarter. Whipplewood Advisors LLC bought a new position in AutoZone in the 4th quarter worth $67,000. Finally, Providence First Trust Co purchased a new stake in AutoZone in the 4th quarter worth $80,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Up 0.2 %

Shares of AZO opened at $3,553.69 on Monday. The company’s fifty day simple moving average is $3,401.49 and its 200-day simple moving average is $3,244.44. The company has a market cap of $59.64 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,704.43.

AutoZone (NYSE:AZO) last posted 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 firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. Analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 136 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total value of $482,810.88. Following the transaction, the senior vice president now owns 403 shares of the company’s stock, valued at $1,430,682.24. This trade represents a 25.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the sale, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $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 three months, insiders sold 1,871 shares of company stock valued at $6,720,811. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AZO shares. Wells Fargo & Company boosted their price objective 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. Wedbush restated an “outperform” rating and issued a $3,700.00 price target on shares of AutoZone in a research note on Wednesday, March 5th. Morgan Stanley lifted their price objective on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Roth Capital set a $3,763.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. Finally, Raymond James reiterated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average target price of $3,651.91.

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.