NFC Investments LLC Has $19.86 Million Stake in AutoZone, Inc. (NYSE:AZO)

NFC Investments LLC cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,203 shares of the company’s stock after selling 10 shares during the quarter. AutoZone makes up 5.5% of NFC Investments LLC’s portfolio, making the stock its 7th largest holding. NFC Investments LLC’s holdings in AutoZone were worth $19,862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Glenview Trust co grew its holdings in shares of AutoZone by 116.0% during the fourth quarter. Glenview Trust co now owns 311 shares of the company’s stock valued at $996,000 after purchasing an additional 167 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of AutoZone by 42.9% during the fourth 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 last quarter. Gitterman Wealth Management LLC grew its holdings in shares of AutoZone by 39.0% during the fourth quarter. Gitterman Wealth Management LLC now owns 114 shares of the company’s stock valued at $365,000 after purchasing an additional 32 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of AutoZone by 18.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 517 shares of the company’s stock valued at $1,655,000 after purchasing an additional 82 shares during the last quarter. Finally, one8zero8 LLC bought a new position in shares of AutoZone during the fourth quarter valued at approximately $263,000. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Up 0.2 %

Shares of NYSE:AZO opened at $3,553.69 on Monday. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,704.43. The company has a market cap of $59.64 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The company’s fifty day moving average is $3,401.49 and its two-hundred day moving average is $3,244.44.

AutoZone (NYSE:AZO) last posted its quarterly 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 negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. Equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $3,700.00 target price on shares of AutoZone in a report on Wednesday, March 5th. Citigroup boosted their price objective on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Mizuho boosted their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. Truist Financial boosted their price objective on AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Bank of America boosted their price objective on AutoZone from $3,600.00 to $3,700.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average target price of $3,651.91.

Insider Transactions at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 136 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the transaction, the senior vice president now directly owns 403 shares of the company’s stock, valued at $1,430,682.24. This represents a 25.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dennis W. Leriche sold 1,575 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the transaction, the vice president now directly owns 417 shares in the company, valued at $1,501,200. The trade was a 79.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,871 shares of company stock valued at $6,720,811. 2.10% of the stock is owned by insiders.

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.