ASR Vermogensbeheer N.V. Makes New $5.56 Million Investment in AutoZone, Inc. (NYSE:AZO)

Key Points

• ASR Vermogensbeheer N.V. invested $5.56 million in AutoZone, acquiring 1,458 shares of the company during the first quarter.
• Insider trading at AutoZone saw CFO Jamere Jackson sell 2,612 shares for approximately $9.74 million, marking an 85.95% decrease in his ownership.
• AutoZone reported earnings per share of $35.36 for the last quarter, which fell short of analyst expectations by $1.71, despite a revenue increase of 5.4% year-over-year.

ASR Vermogensbeheer N.V. purchased a new position in AutoZone, Inc. (NYSE:AZO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,458 shares of the company's stock, valued at approximately $5,560,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of AutoZone by 3.5% in the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after buying an additional 3 shares during the period. Colonial Trust Co SC raised its holdings in shares of AutoZone by 24.5% in the fourth quarter. Colonial Trust Co SC now owns 61 shares of the company's stock worth $197,000 after buying an additional 12 shares during the period. Comerica Bank raised its holdings in shares of AutoZone by 5.4% in the fourth quarter. Comerica Bank now owns 4,262 shares of the company's stock worth $13,647,000 after buying an additional 217 shares during the period. Barclays PLC raised its holdings in shares of AutoZone by 82.6% in the fourth quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after buying an additional 77,015 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of AutoZone by 10.1% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after buying an additional 271 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's 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 sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,862 shares of company stock valued at $126,058,789. Company insiders own 2.10% of the company's stock.

AutoZone Trading Down 0.3%

Shares of AZO stock opened at $4,059.42 on Friday. The business's fifty day simple moving average is $3,731.07 and its 200-day simple moving average is $3,637.60. The company has a market cap of $68.12 billion, a PE ratio of 27.47, a PEG ratio of 2.43 and a beta of 0.38. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,094.69.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly 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). The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $36.69 earnings per share. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZO has been the subject of several research analyst reports. Oppenheimer raised shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price target for the company in a research note on Friday, May 2nd. Wells Fargo & Company set a $4,200.00 price target on shares of AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. UBS Group lifted their price target 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. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen raised shares of AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of "Buy" and a consensus target price of $4,087.00.

AutoZone 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.

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