Asset Advisors Investment Management LLC Purchases 218 Shares of AutoZone, Inc. (NYSE:AZO)

Asset Advisors Investment Management LLC raised its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 11.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,069 shares of the company's stock after acquiring an additional 218 shares during the period. Asset Advisors Investment Management LLC's holdings in AutoZone were worth $7,889,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Dynasty Wealth Management LLC boosted its stake in shares of AutoZone by 1.3% during the first quarter. Dynasty Wealth Management LLC now owns 536 shares of the company's stock valued at $2,042,000 after purchasing an additional 7 shares during the period. Triasima Portfolio Management inc. purchased a new stake in shares of AutoZone during the first quarter valued at $301,000. Mechanics Financial Corp purchased a new stake in shares of AutoZone during the first quarter valued at $57,000. Grandfield & Dodd LLC boosted its stake in shares of AutoZone by 0.4% during the first quarter. Grandfield & Dodd LLC now owns 4,861 shares of the company's stock valued at $18,534,000 after purchasing an additional 20 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of AutoZone by 0.9% during the first quarter. Cullen Frost Bankers Inc. now owns 3,440 shares of the company's stock valued at $13,117,000 after purchasing an additional 29 shares during the period. Institutional investors own 92.74% of the company's stock.

Insider Activity at AutoZone

In other news, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the transaction, the chairman owned 8,546 shares in the company, valued at $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 available through this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the transaction, the vice president owned 159 shares in the company, valued at approximately $581,940. This trade represents a 96.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,662 shares of company stock worth $131,999,089. 2.10% of the stock is owned by insiders.

AutoZone Stock Performance

AZO stock opened at $3,680.56 on Thursday. The firm has a market cap of $61.76 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 2.21 and a beta of 0.39. The firm has a 50-day simple moving average of $3,701.58 and a two-hundred day simple moving average of $3,570.51. AutoZone, Inc. has a one year low of $2,894.02 and a one year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The company 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 EPS. The business's revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the subject of a number of recent analyst reports. UBS Group boosted their target price 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. Oppenheimer raised shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 target price for the company in a research note on Friday, May 2nd. Evercore ISI set a $3,950.00 target price on shares of AutoZone in a research note on Monday, May 19th. Wall Street Zen raised shares of AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Two investment 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, the company has a consensus rating of "Buy" and an average price target 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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