Allstate Corp Invests $1.63 Million in AutoZone, Inc. (NYSE:AZO)

Allstate Corp purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the fourth quarter, Holdings Channel.com reports. The fund purchased 510 shares of the company’s stock, valued at approximately $1,633,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AZO. Pittenger & Anderson Inc. lifted its position in shares of AutoZone by 5.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock worth $195,000 after buying an additional 3 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its holdings in AutoZone by 2.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company’s stock worth $487,000 after acquiring an additional 3 shares during the period. PDS Planning Inc lifted its holdings in AutoZone by 2.3% during the fourth quarter. PDS Planning Inc now owns 132 shares of the company’s stock worth $423,000 after acquiring an additional 3 shares during the period. Harbour Investments Inc. grew its stake in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after purchasing an additional 3 shares during the period. Finally, McIlrath & Eck LLC increased its position 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 purchasing an additional 4 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 2,850 shares of the business’s stock in a transaction that occurred on 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 owns 2,924 shares in the company, valued at $10,555,640. The trade was a 49.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the transaction, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. The trade was a 92.46 % 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. Insiders own 2.10% of the company’s stock.

AutoZone Stock Down 1.5 %

Shares of NYSE AZO opened at $3,769.72 on Monday. The stock’s 50-day simple moving average is $3,483.80 and its two-hundred day simple moving average is $3,280.69. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,838.00. The firm has a market capitalization of $63.26 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its earnings results 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 net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. As a group, research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of research analyst reports. Bank of America boosted their price target 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. Citigroup increased their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Mizuho raised their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. TD Cowen upped their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Roth Capital set a $3,763.00 target price on AutoZone in a research report on Wednesday, March 5th. One equities 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,683.36.

AutoZone 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.