AutoZone, Inc. (AZO) Position Decreased by Bessemer Group Inc.

Bessemer Group Inc. reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 99.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,301 shares of the company’s stock after selling 131,140 shares during the period. Bessemer Group Inc.’s holdings in AutoZone were worth $1,090,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AZO. Penserra Capital Management LLC bought a new stake in shares of AutoZone during the 4th quarter worth $30,000. Lindbrook Capital LLC bought a new stake in shares of AutoZone during the 4th quarter worth $35,000. CX Institutional bought a new stake in shares of AutoZone during the 4th quarter worth $71,000. Moody National Bank Trust Division bought a new stake in shares of AutoZone during the 4th quarter worth $99,000. Finally, Bremer Trust National Association bought a new stake in shares of AutoZone during the 4th quarter worth $125,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded AutoZone from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Credit Suisse Group reiterated an “outperform” rating and issued a $1,050.00 target price (up from $930.00) on shares of AutoZone in a research report on Wednesday, February 27th. Argus increased their target price on AutoZone from $818.00 to $940.00 and gave the company a “buy” rating in a research report on Thursday, December 6th. Wedbush reiterated an “outperform” rating and issued a $1,030.00 target price (up from $970.00) on shares of AutoZone in a research report on Wednesday, February 27th. Finally, Barclays reiterated an “overweight” rating and issued a $1,050.00 target price (up from $950.00) on shares of AutoZone in a research report on Wednesday, February 27th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $922.20.

AutoZone stock opened at $950.22 on Friday. The stock has a market capitalization of $23.56 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.26 and a beta of 0.68. AutoZone, Inc. has a 12 month low of $590.76 and a 12 month high of $964.39.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 26th. The company reported $11.49 EPS for the quarter, beating the consensus estimate of $9.98 by $1.51. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.45 billion. AutoZone had a negative return on equity of 99.55% and a net margin of 12.49%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $8.47 earnings per share. On average, equities research analysts anticipate that AutoZone, Inc. will post 61.44 EPS for the current fiscal year.

In other news, insider Philip B. Daniele sold 740 shares of the stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $920.00, for a total value of $680,800.00. Following the completion of the sale, the insider now owns 1,105 shares of the company’s stock, valued at $1,016,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Albert Saltiel sold 2,150 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $912.11, for a total value of $1,961,036.50. Following the completion of the sale, the vice president now directly owns 2,308 shares of the company’s stock, valued at approximately $2,105,149.88. The disclosure for this sale can be found here. In the last three months, insiders sold 25,390 shares of company stock valued at $21,645,367. Insiders own 2.80% of the company’s stock.

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AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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