Parallel Advisors LLC Purchases 15 Shares of AutoZone, Inc. (NYSE:AZO)

Parallel Advisors LLC lifted its stake in AutoZone, Inc. (NYSE:AZO) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 202 shares of the company’s stock after buying an additional 15 shares during the period. Parallel Advisors LLC’s holdings in AutoZone were worth $647,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Proficio Capital Partners LLC raised its position 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 purchasing an additional 419,375 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in AutoZone in the fourth quarter worth about $471,629,000. Wealthfront Advisers LLC raised its position in AutoZone by 6,083.9% in the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock worth $290,281,000 after purchasing an additional 89,190 shares in the last quarter. The Manufacturers Life Insurance Company raised its position 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 purchasing an additional 60,483 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in AutoZone in the fourth quarter worth about $189,483,000. Institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction on 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 transaction, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Dennis W. Leriche sold 1,575 shares of AutoZone stock in a transaction on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the transaction, the vice president now directly owns 417 shares in the company, valued at approximately $1,501,200. This represents a 79.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,871 shares of company stock valued at $6,720,811 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of AZO stock opened at $3,569.96 on Friday. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43. The stock has a market cap of $59.91 billion, a PE ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71. The firm’s 50 day moving average price is $3,426.29 and its two-hundred day moving average price is $3,254.98.

AutoZone (NYSE:AZO) last announced its quarterly earnings data 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). The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on AZO. Citigroup increased their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Raymond James reaffirmed a “strong-buy” rating on shares of AutoZone in a report on Wednesday, March 5th. Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Bank of America raised their price objective on shares of AutoZone from $3,600.00 to $3,700.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Finally, Evercore ISI raised their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating 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 assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.