OVERSEA CHINESE BANKING Corp Ltd Sells 44 Shares of AutoZone, Inc. (NYSE:AZO)

OVERSEA CHINESE BANKING Corp Ltd decreased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 21.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 157 shares of the company’s stock after selling 44 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in AutoZone were worth $406,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. LGT Capital Partners LTD. boosted its stake in AutoZone by 32.2% in the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after purchasing an additional 6,630 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in shares of AutoZone by 17.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 1,701 shares of the company’s stock valued at $4,398,000 after acquiring an additional 255 shares during the period. Graypoint LLC grew its stake in shares of AutoZone by 8.3% in the fourth quarter. Graypoint LLC now owns 143 shares of the company’s stock valued at $370,000 after acquiring an additional 11 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in AutoZone by 59.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,292 shares of the company’s stock worth $3,328,000 after acquiring an additional 480 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in AutoZone by 42,900.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 430 shares of the company’s stock worth $1,112,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the sale, the vice president now owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the transaction, the chief executive officer now directly owns 900 shares of the company’s stock, valued at $2,845,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the transaction, the vice president now owns 2,921 shares in the company, valued at $8,756,456.96. The disclosure for this sale can be found here. Insiders have sold 15,990 shares of company stock worth $50,335,193 over the last ninety days. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AZO shares. Evercore ISI decreased their target price on shares of AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Mizuho assumed coverage on AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 target price for the company. Wedbush raised their price target on AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Finally, DA Davidson boosted their price target on AutoZone from $2,770.00 to $3,025.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,086.61.

AutoZone Stock Performance

NYSE AZO opened at $2,985.54 on Monday. AutoZone, Inc. has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37. The firm’s fifty day moving average price is $3,005.06 and its two-hundred day moving average price is $2,761.20. The stock has a market cap of $51.71 billion, a PE ratio of 21.02, a PEG ratio of 1.48 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $26.08 by $2.81. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. During the same quarter last year, the firm earned $24.64 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.4 earnings per share for the current fiscal year.

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.