1248 Management LLC Has $1.03 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• 1248 Management LLC has reduced its holdings in AutoZone by 34.4%, selling 141 shares and now owning 269 shares, worth approximately $1,025,000.
• Analysts have recently set a consensus price target of $4,101.29 for AutoZone, with the stock receiving a majority of Buy ratings from equity research analysts.
• Recent insider trading includes significant sales by VP Richard Craig Smith and Chairman William C. Rhodes III, leading to a total of 31,250 shares sold by insiders valued at over $116 million.

1248 Management LLC trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 34.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269 shares of the company's stock after selling 141 shares during the quarter. AutoZone accounts for about 0.6% of 1248 Management LLC's portfolio, making the stock its 29th largest position. 1248 Management LLC's holdings in AutoZone were worth $1,025,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Forum Financial Management LP boosted its stake in shares of AutoZone by 2.2% in the 4th quarter. Forum Financial Management LP now owns 138 shares of the company's stock valued at $443,000 after purchasing an additional 3 shares during the last quarter. Focus Financial Network Inc. boosted its stake in shares of AutoZone by 2.9% in the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after purchasing an additional 3 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of AutoZone by 2.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after purchasing an additional 3 shares during the last quarter. Rappaport Reiches Capital Management LLC boosted its stake in shares of AutoZone by 4.8% in the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after purchasing an additional 3 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of AutoZone by 3.5% in the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

Shares of AutoZone stock traded down $16.65 during trading on Friday, reaching $4,216.31. 92,444 shares of the company traded hands, compared to its average volume of 95,411. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,248.14. The company has a 50 day moving average price of $3,929.54 and a 200-day moving average price of $3,742.59. The firm has a market capitalization of $70.75 billion, a PE ratio of 28.54, a P/E/G ratio of 2.23 and a beta of 0.41.

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 27,500 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the transaction, the chairman owned 8,546 shares in the company, valued at $31,696,515.78. The trade was a 76.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,250 shares of company stock worth $116,321,123 in the last quarter. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AZO. Evercore ISI upped their price objective on shares of AutoZone from $4,060.00 to $4,250.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Citigroup upped their price objective on shares of AutoZone from $3,900.00 to $4,900.00 and gave the company a "buy" rating in a research note on Wednesday. Bank of America raised shares of AutoZone from a "neutral" rating to a "buy" rating and upped their price objective for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Mizuho upped their price objective on shares of AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Finally, UBS Group upped their price objective on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $4,148.90.

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.