AutoZone, Inc. (NYSE:AZO) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 517 shares of the company’s stock after purchasing an additional 82 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in AutoZone were worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AZO. Franklin Resources Inc. increased its position in AutoZone by 18.1% in the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after buying an additional 6,898 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after acquiring an additional 60,483 shares during the period. Assenagon Asset Management S.A. lifted its position in AutoZone by 29.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after purchasing an additional 7,922 shares during the last quarter. Silverleafe Capital Partners LLC boosted its stake in AutoZone by 1.0% during the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock valued at $8,460,000 after purchasing an additional 26 shares during the period. Finally, Pensionfund Sabic grew its position in AutoZone by 51.3% in the 4th quarter. Pensionfund Sabic now owns 590 shares of the company’s stock worth $1,889,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price target on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Roth Capital set a $3,763.00 target price on AutoZone in a research note on Wednesday, March 5th. Truist Financial increased their price target on AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. UBS Group lifted their price objective on shares of AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, BMO Capital Markets increased their target price on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3,683.36.

Insider Activity

In related news, VP Richard Craig Smith sold 2,850 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the sale, the vice president now directly owns 2,924 shares of the company’s stock, valued at approximately $10,555,640. This represents a 49.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of AutoZone 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 directly owns 403 shares in the company, valued at approximately $1,430,682.24. This trade represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,721 shares of company stock worth $17,009,311 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

AutoZone Trading Up 0.9 %

Shares of AZO opened at $3,605.88 on Friday. The business’s 50-day moving average price is $3,433.28 and its 200 day moving average price is $3,257.92. The stock has a market capitalization of $60.51 billion, a P/E ratio of 24.09, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,704.43.

AutoZone (NYSE:AZO) last released its quarterly earnings results 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 net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. On average, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

About AutoZone

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.