Corient Private Wealth LLC Has $53.36 Million Position in AutoZone, Inc. (NYSE:AZO)

Corient Private Wealth LLC reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,665 shares of the company’s stock after selling 204 shares during the quarter. Corient Private Wealth LLC’s holdings in AutoZone were worth $53,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AZO. Franklin Resources Inc. grew its holdings in AutoZone by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after acquiring an additional 6,898 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of AutoZone by 186.8% during 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 during the period. Assenagon Asset Management S.A. increased its holdings in AutoZone by 29.5% in the fourth 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 holdings in AutoZone by 1.0% during the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after buying an additional 26 shares during the last quarter. Finally, Pensionfund Sabic grew its position in shares of AutoZone by 51.3% during the 4th quarter. Pensionfund Sabic now owns 590 shares of the company’s stock worth $1,889,000 after buying an additional 200 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Performance

Shares of AZO stock opened at $3,553.69 on Monday. The firm’s 50-day moving average is $3,401.49 and its 200-day moving average is $3,244.44. The stock has a market cap of $59.64 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43.

AutoZone (NYSE:AZO) last posted its 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). The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. Sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AZO shares. Morgan Stanley increased their price target on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. UBS Group boosted their price target on shares of AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Guggenheim raised 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. DA Davidson lifted their target price on AutoZone from $3,350.00 to $3,500.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Finally, Wedbush restated an “outperform” rating and issued a $3,700.00 price target on shares of AutoZone in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,651.91.

Insiders Place Their Bets

In other news, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 50 shares of the company’s stock, valued at approximately $177,500. This represents a 76.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of AutoZone stock in a transaction on 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 completion of the transaction, the senior vice president now owns 403 shares in the company, valued at approximately $1,430,682.24. The trade was a 25.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,871 shares of company stock worth $6,720,811 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

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.