Citigroup Inc. Grows Holdings in AutoZone, Inc. (NYSE:AZO)

Key Points

• Citigroup Inc. increased its stake in AutoZone, Inc. by 95.9% during the 1st quarter, owning approximately 0.10% of the company valued at $66.6 million.
• AutoZone reported a quarterly earnings per share of $35.36, which fell short of analysts' expectations, despite a revenue of $4.46 billion that exceeded estimates.
• Analysts have a consensus rating of "Buy" for AutoZone, with an average price target of $4,087.00, and several firms have raised their price objectives for the stock.

Citigroup Inc. grew its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 95.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,470 shares of the company's stock after buying an additional 8,552 shares during the quarter. Citigroup Inc. owned 0.10% of AutoZone worth $66,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZO. Brighton Jones LLC raised its position in AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after purchasing an additional 14 shares during the period. F M Investments LLC purchased a new stake in AutoZone in the 4th quarter worth about $247,000. Scotia Capital Inc. raised its position in AutoZone by 11.3% in the 4th quarter. Scotia Capital Inc. now owns 1,551 shares of the company's stock worth $4,966,000 after purchasing an additional 157 shares during the period. Sterling Capital Management LLC raised its position in AutoZone by 4.9% in the 4th quarter. Sterling Capital Management LLC now owns 668 shares of the company's stock worth $2,139,000 after purchasing an additional 31 shares during the period. Finally, Crux Wealth Advisors purchased a new stake in AutoZone in the 4th quarter worth about $231,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and upped their target price for the stock from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. DA Davidson upped their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, UBS Group upped their target price on shares of AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $4,087.00.

AutoZone Trading Down 0.9%

Shares of NYSE:AZO traded down $36.20 on Tuesday, hitting $4,000.59. 95,646 shares of the company were exchanged, compared to its average volume of 112,056. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,094.69. The stock's 50 day moving average price is $3,747.90 and its 200 day moving average price is $3,654.19. The firm has a market capitalization of $67.13 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 2.41 and a beta of 0.38.

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

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman directly owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. This trade represents a 76.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,862 shares of company stock valued at $126,058,789. 2.10% of the stock is currently owned by corporate insiders.

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.