OMERS ADMINISTRATION Corp Sells 287 Shares of AutoZone, Inc. $AZO

Key Points

• OMERS ADMINISTRATION Corp has reduced its holdings in AutoZone, Inc. by 25.7% in Q1, now owning 829 shares valued at $3,161,000.
• Analysts have generally upgraded the stock, with Oppenheimer rating it as "outperform" and setting a price target of $4,600.00; the average consensus target price is $4,101.29.
• AutoZone reported a quarterly EPS of $35.36, missing estimates, but showed 5.4% year-over-year revenue growth, amounting to $4.46 billion.

OMERS ADMINISTRATION Corp lessened its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 25.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 829 shares of the company's stock after selling 287 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in AutoZone were worth $3,161,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AZO. Eisler Capital Management Ltd. acquired a new stake in AutoZone during the first quarter worth about $12,668,000. B. Metzler seel. Sohn & Co. AG raised its stake in AutoZone by 9.4% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 10,458 shares of the company's stock worth $39,874,000 after acquiring an additional 900 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in AutoZone by 12.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,951 shares of the company's stock worth $194,265,000 after acquiring an additional 5,819 shares during the period. Synovus Financial Corp acquired a new stake in AutoZone during the first quarter worth about $214,000. Finally, ICONIQ Capital LLC raised its stake in AutoZone by 18.8% during the first quarter. ICONIQ Capital LLC now owns 82 shares of the company's stock worth $313,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AZO shares. JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. BMO Capital Markets reiterated an "outperform" rating and set a $4,100.00 price objective (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Wells Fargo & Company set a $4,200.00 target price on shares of AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Roth Capital set a $4,135.00 target price on shares of AutoZone and gave the stock a "buy" rating in a research report on Monday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of "Buy" and a consensus price target of $4,101.29.

AutoZone Price Performance

AutoZone stock traded down $21.86 during midday trading on Tuesday, reaching $4,176.67. The stock had a trading volume of 95,053 shares, compared to its average volume of 129,630. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,229.68. The firm's fifty day simple moving average is $3,877.21 and its two-hundred day simple moving average is $3,725.27. The firm has a market cap of $70.08 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 2.51 and a beta of 0.41.

Insider Transactions at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 31,250 shares of company stock valued at $116,321,123 in the last three months. Corporate insiders own 2.10% of the company's stock.

AutoZone Company 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.