Achmea Investment Management B.V. Sells 277 Shares of AutoZone, Inc. (NYSE:AZO)

Achmea Investment Management B.V. trimmed its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 14.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,688 shares of the company's stock after selling 277 shares during the period. Achmea Investment Management B.V.'s holdings in AutoZone were worth $6,436,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in AZO. Headlands Technologies LLC bought a new position in AutoZone in the fourth quarter valued at about $29,000. Flagship Wealth Advisors LLC acquired a new position in AutoZone during the 4th quarter valued at about $32,000. Harbour Investments Inc. lifted its position in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after purchasing an additional 3 shares during the period. Minot DeBlois Advisors LLC bought a new position in shares of AutoZone in the 4th quarter valued at about $45,000. Finally, Itau Unibanco Holding S.A. grew its position in shares of AutoZone by 750.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company's stock worth $54,000 after buying an additional 15 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Trading Up 2.4%

AZO stock opened at $3,606.82 on Friday. The stock has a 50-day moving average price of $3,694.76 and a two-hundred day moving average price of $3,532.18. AutoZone, Inc. has a 1 year low of $2,801.49 and a 1 year high of $3,916.81. The stock has a market cap of $60.52 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.11 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same period in the prior year, the business posted $36.69 EPS. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction dated 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 sale, the chairman now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the transaction, the senior vice president now directly owns 406 shares in the company, valued at $1,460,434.78. This trade represents a 64.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,662 shares of company stock worth $131,999,089 over the last ninety days. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a research note on Friday, May 23rd. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. DA Davidson raised their price target on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a report on Friday, May 23rd. Finally, Guggenheim raised their target price on AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Two equities research 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 stock. Based on data from MarketBeat, AutoZone has a consensus rating of "Buy" and a consensus price target of $4,072.24.

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.

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