Sawgrass Asset Management LLC Has $12.04 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Sawgrass Asset Management LLC grew its holdings in AutoZone, Inc. (NYSE:AZO) by 25.6% during the 4th quarter, HoldingsChannel reports. The firm owned 4,657 shares of the company’s stock after purchasing an additional 948 shares during the quarter. AutoZone comprises approximately 1.4% of Sawgrass Asset Management LLC’s holdings, making the stock its 27th largest position. Sawgrass Asset Management LLC’s holdings in AutoZone were worth $12,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Rock Creek Group LP bought a new position in shares of AutoZone in the third quarter worth about $25,000. ORG Partners LLC bought a new position in AutoZone in the 3rd quarter valued at approximately $43,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in AutoZone in the third quarter valued at approximately $51,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AutoZone during the fourth quarter worth $54,000. Finally, Buck Wealth Strategies LLC bought a new position in shares of AutoZone in the 3rd quarter valued at $64,000. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AutoZone

In other AutoZone news, CEO Philip B. Daniele sold 4,190 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the sale, the chief executive officer now owns 900 shares in the company, valued at approximately $2,845,512. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares in the company, valued at $48,992,208.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Philip B. Daniele sold 4,190 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders have sold 15,990 shares of company stock worth $50,335,193. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

AZO has been the subject of several research reports. Mizuho started coverage on AutoZone in a research report on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 target price for the company. Morgan Stanley upped their price target on shares of AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Citigroup reduced their price objective on shares of AutoZone from $3,505.00 to $3,420.00 and set a “buy” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Finally, Evercore ISI lowered their price objective on AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average target price of $3,108.83.

AutoZone Stock Down 0.9 %

AZO traded down $28.13 during trading on Wednesday, hitting $2,962.52. 80,952 shares of the company’s stock were exchanged, compared to its average volume of 150,585. The stock has a market cap of $51.31 billion, a P/E ratio of 20.86, a PEG ratio of 1.46 and a beta of 0.72. The business’s 50 day moving average is $3,056.63 and its two-hundred day moving average is $2,795.11. AutoZone, Inc. has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $24.64 EPS. On average, sell-side analysts forecast that AutoZone, Inc. will post 152.4 earnings per share for the current year.

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.