AutoZone, Inc. $AZO Shares Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. increased its stake in AutoZone, Inc. by 13.4% during Q2, now owning 1,653 shares valued at approximately $6.14 million.
• Analysts have raised their price targets for AutoZone, with the average target now at $4,538.21, indicating strong investor confidence, with most analysts rating it as a Moderate Buy.
• Inside trading news reveals that VP Richard Craig Smith sold 3,000 shares at around $3,875.90, signaling significant insider activity.

ASR Vermogensbeheer N.V. grew its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 13.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,653 shares of the company's stock after purchasing an additional 195 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in AutoZone were worth $6,136,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. CHURCHILL MANAGEMENT Corp lifted its stake in shares of AutoZone by 3.3% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 3,940 shares of the company's stock worth $14,625,000 after purchasing an additional 125 shares during the period. Pure Financial Advisors LLC acquired a new stake in shares of AutoZone during the 2nd quarter worth $580,000. Consolidated Planning Corp increased its holdings in shares of AutoZone by 4.3% during the 2nd quarter. Consolidated Planning Corp now owns 1,115 shares of the company's stock worth $4,139,000 after buying an additional 46 shares during the last quarter. Ninety One SA PTY Ltd acquired a new stake in shares of AutoZone during the 2nd quarter worth $294,000. Finally, Ninety One UK Ltd increased its holdings in shares of AutoZone by 349.5% during the 2nd quarter. Ninety One UK Ltd now owns 74,400 shares of the company's stock worth $276,190,000 after buying an additional 57,849 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AZO. Morgan Stanley upped their price objective on AutoZone from $4,000.00 to $4,700.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. TD Cowen upped their price target on shares of AutoZone from $4,300.00 to $4,900.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. BMO Capital Markets upped their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock an "outperform" rating in a research report on Thursday, September 25th. The Goldman Sachs Group upped their price target on shares of AutoZone from $3,894.00 to $4,090.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Finally, Barclays upped their price target on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4,538.21.

Insider Activity

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP John Scott Murphy sold 2,860 shares of the firm's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the transaction, the vice president owned 1,244 shares of the company's stock, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

AutoZone Stock Performance

AZO opened at $4,219.73 on Friday. The company has a 50-day moving average of $4,126.05 and a 200-day moving average of $3,840.81. The company has a market capitalization of $70.81 billion, a P/E ratio of 29.13, a PEG ratio of 2.00 and a beta of 0.40. AutoZone, Inc. has a 1-year low of $2,980.10 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm had revenue of $6.24 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the company posted $51.58 earnings per share. AutoZone's quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal 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.

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