AutoZone, Inc. (NYSE:AZO) Position Increased by Boston Family Office LLC

Key Points

• Boston Family Office LLC doubled its stake in AutoZone, increasing ownership by 100% to a total of 168 shares valued at approximately $641,000.
• AutoZone's CFO Jamere Jackson sold 2,612 shares worth nearly $9.74 million, reducing their holdings by almost 86% to 427 shares.
• Equities analysts raised AutoZone's stock ratings, with price targets ranging from $3,900 to $4,800, reflecting a positive consensus outlook for the company.

Boston Family Office LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 100.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168 shares of the company's stock after buying an additional 84 shares during the quarter. Boston Family Office LLC's holdings in AutoZone were worth $641,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AZO. Forum Financial Management LP boosted its position in shares of AutoZone by 2.2% during the fourth quarter. Forum Financial Management LP now owns 138 shares of the company's stock worth $443,000 after buying an additional 3 shares during the period. Wealthcare Advisory Partners LLC raised its stake in AutoZone by 2.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after acquiring an additional 3 shares in the last quarter. Focus Financial Network Inc. boosted its position in AutoZone by 2.9% during the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock worth $400,000 after acquiring an additional 3 shares during the period. Blue Trust Inc. grew its stake 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 purchasing an additional 3 shares in the last quarter. Finally, Rappaport Reiches Capital Management LLC increased its holdings in shares of AutoZone by 4.8% during the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In other news, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the completion of the sale, the chief financial officer owned 427 shares in the company, valued at approximately $1,591,877.35. This represents a 85.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction that occurred on 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. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,862 shares of company stock valued at $126,058,789. Company insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America raised shares of AutoZone from a "neutral" rating to a "buy" rating and raised their target price for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Evercore ISI set a $3,950.00 price objective on shares of AutoZone in a report on Monday, May 19th. UBS Group boosted their target price on AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Truist Financial set a $3,995.00 target price on AutoZone in a research report on Friday, May 23rd. Finally, Oppenheimer upgraded AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price target on the stock in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, AutoZone has a consensus rating of "Buy" and a consensus target price of $4,087.00.

AutoZone Stock Performance

Shares of AZO opened at $4,007.93 on Friday. The company has a market capitalization of $67.26 billion, a PE ratio of 27.13, a PEG ratio of 2.39 and a beta of 0.38. The company's 50 day moving average price is $3,765.61 and its 200 day moving average price is $3,668.31. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,094.69.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The firm had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $36.69 earnings per share. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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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