Parallel Advisors LLC Has $647,000 Stake in AutoZone, Inc. (NYSE:AZO)

Parallel Advisors LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 8.0% during the fourth quarter, HoldingsChannel reports. The fund owned 202 shares of the company’s stock after buying an additional 15 shares during the period. Parallel Advisors LLC’s holdings in AutoZone were worth $647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZO. Cibc World Markets Corp increased its stake in AutoZone by 15.9% in the 4th quarter. Cibc World Markets Corp now owns 2,679 shares of the company’s stock valued at $8,578,000 after buying an additional 367 shares during the last quarter. Glenview Trust co increased its stake in AutoZone by 116.0% in the 4th quarter. Glenview Trust co now owns 311 shares of the company’s stock valued at $996,000 after buying an additional 167 shares during the last quarter. Harbour Investments Inc. increased its stake in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after buying an additional 3 shares during the last quarter. Gitterman Wealth Management LLC increased its stake in AutoZone by 39.0% in the 4th quarter. Gitterman Wealth Management LLC now owns 114 shares of the company’s stock valued at $365,000 after buying an additional 32 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in AutoZone by 18.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 517 shares of the company’s stock valued at $1,655,000 after buying an additional 82 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AZO. Raymond James reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Mizuho boosted their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Roth Capital set a $3,763.00 price objective on shares of AutoZone in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,651.91.

Insider Transactions at AutoZone

In related news, VP Dennis W. Leriche sold 1,575 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the transaction, the vice president now directly owns 417 shares in the company, valued at $1,501,200. This represents a 79.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,871 shares of company stock valued at $6,720,811. Company insiders own 2.10% of the company’s stock.

AutoZone Stock Down 0.6 %

NYSE AZO opened at $3,569.96 on Friday. The company has a market capitalization of $59.91 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,704.43. The firm has a 50-day moving average price of $3,426.29 and a two-hundred day moving average price of $3,254.98.

AutoZone (NYSE:AZO) last issued 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 firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current 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.