Korea Investment CORP Sells 291 Shares of AutoZone, Inc. (NYSE:AZO)

Korea Investment CORP trimmed its position in AutoZone, Inc. (NYSE:AZO) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,819 shares of the company’s stock after selling 291 shares during the period. Korea Investment CORP’s holdings in AutoZone were worth $21,834,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AZO. D.A. Davidson & CO. raised its position in shares of AutoZone by 10.9% during the third quarter. D.A. Davidson & CO. now owns 918 shares of the company’s stock worth $2,892,000 after purchasing an additional 90 shares during the period. Townsquare Capital LLC increased its stake in AutoZone by 18.9% during the 3rd quarter. Townsquare Capital LLC now owns 937 shares of the company’s stock valued at $2,952,000 after purchasing an additional 149 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AutoZone by 7.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,611 shares of the company’s stock worth $11,375,000 after buying an additional 244 shares during the last quarter. Fiduciary Trust Co lifted its stake in shares of AutoZone by 101.9% in the third quarter. Fiduciary Trust Co now owns 523 shares of the company’s stock valued at $1,647,000 after buying an additional 264 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of AutoZone by 15.6% during the third quarter. Public Sector Pension Investment Board now owns 743 shares of the company’s stock valued at $2,340,000 after buying an additional 100 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,769.72 on Friday. The stock has a market capitalization of $63.26 billion, a PE ratio of 25.19, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,838.00. The business’s fifty day moving average price is $3,483.80 and its 200-day moving average price is $3,279.56.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, equities analysts expect 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 firm’s stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 50 shares in the company, valued at $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dennis W. Leriche sold 1,575 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the sale, the vice president now 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. In the last ninety days, insiders sold 6,721 shares of company stock valued at $24,609,331. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of analyst reports. Raymond James restated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, March 5th. Guggenheim increased their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Argus cut AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price target on AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, Bank of America raised their price objective on AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,683.36.

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.