3Chopt Investment Partners LLC Invests $385,000 in AutoZone, Inc. (NYSE:AZO)

3Chopt Investment Partners LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 101 shares of the company's stock, valued at approximately $385,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sound View Wealth Advisors Group LLC lifted its holdings in shares of AutoZone by 2.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company's stock worth $487,000 after acquiring an additional 3 shares during the period. PDS Planning Inc increased its position in AutoZone by 2.3% during the 4th quarter. PDS Planning Inc now owns 132 shares of the company's stock worth $423,000 after purchasing an additional 3 shares in the last quarter. Harbour Investments Inc. increased its position in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after purchasing an additional 3 shares in the last quarter. Meeder Advisory Services Inc. increased its position in AutoZone by 0.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock worth $1,188,000 after purchasing an additional 3 shares in the last quarter. Finally, Tandem Wealth Advisors LLC increased its position in AutoZone by 3.6% during the 4th quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock worth $279,000 after purchasing an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

AZO has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a research report on Friday, May 23rd. The Goldman Sachs Group set a $3,811.00 price objective on shares of AutoZone in a research report on Friday, May 23rd. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $4,072.24.

Insider Transactions at AutoZone

In related news, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the transaction, the senior vice president now directly owns 406 shares of the company's stock, valued at $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the transaction, the chairman now directly owns 8,546 shares in the company, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,662 shares of company stock worth $131,999,089 over the last three months. 2.10% of the stock is owned by company insiders.

AutoZone Stock Up 2.4%

AZO opened at $3,606.82 on Friday. AutoZone, Inc. has a twelve month low of $2,801.49 and a twelve month high of $3,916.81. The company has a fifty day moving average of $3,694.76 and a 200-day moving average of $3,533.48. The stock has a market cap of $60.52 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last posted 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). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the company earned $36.69 earnings per share. The company's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal 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.

Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.