Sawgrass Asset Management LLC grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 3.2% during the first quarter, HoldingsChannel reports. The firm owned 61,794 shares of the company’s stock after purchasing an additional 1,934 shares during the period. AutoZone accounts for about 2.8% of Sawgrass Asset Management LLC’s portfolio, making the stock its 8th largest position. Sawgrass Asset Management LLC’s holdings in AutoZone were worth $63,284,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Scotia Capital Inc. grew its position in AutoZone by 1.1% in the 4th quarter. Scotia Capital Inc. now owns 1,112 shares of the company’s stock worth $932,000 after purchasing an additional 12 shares during the last quarter. Nuveen Asset Management LLC grew its position in AutoZone by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,574 shares of the company’s stock worth $1,320,000 after purchasing an additional 15 shares during the last quarter. Parallel Advisors LLC grew its position in AutoZone by 19.8% in the 1st quarter. Parallel Advisors LLC now owns 109 shares of the company’s stock worth $112,000 after purchasing an additional 18 shares during the last quarter. Tompkins Financial Corp grew its position in AutoZone by 9.4% in the 1st quarter. Tompkins Financial Corp now owns 221 shares of the company’s stock worth $171,000 after purchasing an additional 19 shares during the last quarter. Finally, Savant Capital LLC grew its position in AutoZone by 3.3% in the 1st quarter. Savant Capital LLC now owns 648 shares of the company’s stock worth $664,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.
NYSE:AZO traded up $8.96 on Friday, reaching $990.30. The stock had a trading volume of 1,782 shares, compared to its average volume of 236,795. The firm has a market cap of $24.35 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.32 and a beta of 0.67. AutoZone, Inc. has a 1-year low of $597.00 and a 1-year high of $1,074.67.
Several brokerages have recently weighed in on AZO. JPMorgan Chase & Co. lifted their target price on shares of AutoZone from $995.00 to $1,126.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Citigroup began coverage on shares of AutoZone in a research report on Monday, April 1st. They set a “buy” rating and a $1,206.00 target price on the stock. Credit Suisse Group set a $1,131.00 target price on shares of AutoZone and gave the company a “positive” rating in a research report on Tuesday, April 23rd. They noted that the move was a valuation call. Wells Fargo & Co reiterated an “outperform” rating and set a $1,050.00 target price (up from $940.00) on shares of AutoZone in a research report on Tuesday, February 26th. Finally, ValuEngine upgraded shares of AutoZone from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. AutoZone has a consensus rating of “Buy” and a consensus price target of $994.50.
In related news, VP Thomas B. Newbern sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $995.92, for a total transaction of $7,469,400.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $12,023,742.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $1,038.68, for a total transaction of $259,670.00. Following the sale, the director now directly owns 4,357 shares of the company’s stock, valued at $4,525,528.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,640 shares of company stock worth $10,370,907. Company insiders own 2.80% of the company’s stock.
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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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