Creekmur Asset Management LLC Purchases New Stake in AutoZone, Inc. (NYSE:AZO)

Creekmur Asset Management LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 278 shares of the company's stock, valued at approximately $1,060,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of AutoZone during the fourth quarter worth approximately $29,000. Harbour Investments Inc. grew its position in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after acquiring an additional 3 shares during the last quarter. Cornerstone Planning Group LLC purchased a new position in shares of AutoZone during the first quarter worth approximately $44,000. Minot DeBlois Advisors LLC purchased a new position in shares of AutoZone during the fourth quarter worth approximately $45,000. Finally, Tradewinds Capital Management LLC grew its position in shares of AutoZone by 30.0% during the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after acquiring an additional 3 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an "overweight" rating in a research report on Monday, May 19th. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. Morgan Stanley restated an "overweight" rating and set a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $4,087.00.

AutoZone Stock Up 1.7%

Shares of AZO stock traded up $63.75 during trading hours on Friday, hitting $3,713.17. 100,741 shares of the company were exchanged, compared to its average volume of 130,743. The firm has a market cap of $62.31 billion, a PE ratio of 25.13, a PEG ratio of 2.22 and a beta of 0.39. AutoZone, Inc. has a 1 year low of $2,894.02 and a 1 year high of $3,916.81. The firm has a fifty day moving average of $3,702.15 and a 200 day moving average of $3,579.83.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). The company had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company's revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $36.69 earnings per share. Analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the transaction, the chief financial officer owned 427 shares in the company, valued at $1,591,877.35. This represents a 85.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Domingo Hurtado sold 4,800 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the transaction, the vice president owned 159 shares of the company's stock, valued at approximately $581,940. This represents a 96.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,662 shares of company stock worth $131,999,089 in the last quarter. Company insiders own 2.10% of the company's stock.

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.