AutoZone, Inc. (NYSE:AZO) Stake Raised by Rathbones Group PLC

Key Points

• Rathbones Group PLC significantly increased its stake in AutoZone, acquiring a total of 8,591 shares after purchasing an additional 7,964 shares, reflecting a growth of 1,270.2% in the first quarter.
• AutoZone reported a net margin of 13.56% and earnings per share (EPS) of $35.36 for the last quarter, missing analysts' expectations, while revenue increased by 5.4% year-over-year.
• Several analysts upgraded AutoZone's rating, with a consensus target price of $4,087.00, indicating a majority view of buy or strong buy for the stock.

Rathbones Group PLC boosted its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 1,270.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,591 shares of the company's stock after purchasing an additional 7,964 shares during the period. Rathbones Group PLC owned approximately 0.05% of AutoZone worth $32,756,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. United Capital Financial Advisors LLC increased its holdings in AutoZone by 0.3% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company's stock valued at $3,585,000 after purchasing an additional 3 shares in the last quarter. Forum Financial Management LP increased 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 acquiring an additional 3 shares during the last quarter. Focus Financial Network Inc. increased its position in shares of AutoZone by 2.9% during the first 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 last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of AutoZone by 2.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock worth $538,000 after acquiring an additional 3 shares in the last quarter. Finally, Rappaport Reiches Capital Management LLC lifted its stake in shares of AutoZone by 4.8% in the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock worth $252,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AZO shares. Mizuho boosted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. 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 note on Friday, May 2nd. Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. Roth Capital set a $4,135.00 price target on AutoZone and gave the stock a "buy" rating in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $4,087.00.

AutoZone Trading Down 1.0%

NYSE AZO traded down $39.98 during trading hours on Thursday, reaching $3,996.45. The company's stock had a trading volume of 80,534 shares, compared to its average volume of 131,558. The business has a 50-day simple moving average of $3,754.31 and a 200 day simple moving average of $3,656.84. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,094.69. The stock has a market cap of $67.06 billion, a PE ratio of 27.05, a PEG ratio of 2.39 and a beta of 0.38.

AutoZone (NYSE:AZO - Get Free Report) last issued its 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). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the business earned $36.69 EPS. The business's revenue was up 5.4% on a year-over-year basis. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the transaction, the senior vice president owned 406 shares of the company's stock, valued at $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Richard Craig Smith sold 3,000 shares of the firm's 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 transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,862 shares of company stock worth $126,058,789. Insiders own 2.10% of the company's stock.

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.