Allspring Global Investments Holdings LLC Has $31.06 Million Stake in AutoZone, Inc. (NYSE:AZO)

Allspring Global Investments Holdings LLC raised its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,145 shares of the company's stock after acquiring an additional 496 shares during the period. Allspring Global Investments Holdings LLC's holdings in AutoZone were worth $31,059,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. 3Chopt Investment Partners LLC purchased a new position in AutoZone during the first quarter worth about $385,000. Carolina Wealth Advisors LLC grew its holdings in AutoZone by 309.6% in the first quarter. Carolina Wealth Advisors LLC now owns 213 shares of the company's stock valued at $812,000 after purchasing an additional 161 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in AutoZone by 10.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,808 shares of the company's stock worth $10,589,000 after purchasing an additional 274 shares during the last quarter. Lafayette Investments Inc. boosted its holdings in shares of AutoZone by 0.6% in the 1st quarter. Lafayette Investments Inc. now owns 3,259 shares of the company's stock valued at $12,426,000 after purchasing an additional 21 shares during the last quarter. Finally, Tranquility Partners LLC purchased a new position in shares of AutoZone in the 1st quarter worth $214,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Transactions at AutoZone

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the sale, the chief financial officer directly owned 427 shares of the company's stock, valued at $1,591,877.35. The trade was a 85.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman William C. Rhodes III sold 27,500 shares of the company's 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 completion of the sale, the chairman owned 8,546 shares of the company's stock, valued at $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. Over the last three months, insiders have sold 35,662 shares of company stock worth $131,999,089. Corporate insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AZO. Wall Street Zen upgraded AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a research report on Friday, May 23rd. Roth Mkm raised their target price on AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Bank of America upgraded AutoZone from a "neutral" rating to a "buy" rating and upped their price target for the stock from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Finally, Evercore ISI set a $3,950.00 target price on shares of AutoZone in a research report on Monday, May 19th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $4,072.24.

AutoZone Trading Down 1.3%

AZO stock traded down $49.18 during midday trading on Wednesday, reaching $3,669.41. The company had a trading volume of 22,469 shares, compared to its average volume of 129,989. The company has a 50 day moving average of $3,698.39 and a two-hundred day moving average of $3,538.44. The company has a market capitalization of $61.57 billion, a P/E ratio of 24.89, a PEG ratio of 2.22 and a beta of 0.39. AutoZone, Inc. has a 1 year low of $2,801.49 and a 1 year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.41 billion. During the same period in the previous year, the business posted $36.69 EPS. AutoZone's revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

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.