AutoZone, Inc. (NYSE:AZO) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its holdings in AutoZone, Inc. (NYSE:AZO) by 5.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,267 shares of the company’s stock after buying an additional 120 shares during the period. Daiwa Securities Group Inc.’s holdings in AutoZone were worth $7,259,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AZO. Proficio Capital Partners LLC boosted its holdings in AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after acquiring an additional 419,375 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in AutoZone in the fourth quarter worth about $471,629,000. The Manufacturers Life Insurance Company boosted its holdings in AutoZone by 186.8% in the third 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in AutoZone in the fourth quarter worth about $189,483,000. Finally, Canoe Financial LP boosted its holdings in AutoZone by 542.8% in the fourth quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after acquiring an additional 52,753 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AZO shares. Citigroup increased their price objective on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets increased their price objective on AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Mizuho increased their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, TD Cowen increased their price objective 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,651.91.

AutoZone Trading Down 3.5 %

AZO stock opened at $3,561.95 on Wednesday. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,704.43. The stock has a market cap of $59.78 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 1.86 and a beta of 0.71. The business’s 50-day moving average is $3,383.15 and its 200 day moving average is $3,236.73.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $3.98 billion. As a group, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the 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 sale, the senior vice president now owns 50 shares in the company, valued at approximately $177,500. This represents a 76.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dennis W. Leriche sold 1,575 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the sale, the vice president now owns 417 shares of the company’s stock, valued at approximately $1,501,200. The trade was a 79.07 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

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.