AutoZone, Inc. (NYSE:AZO) Shares Bought by Spire Wealth Management

Spire Wealth Management raised its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 729.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 829 shares of the company's stock after buying an additional 729 shares during the quarter. Spire Wealth Management's holdings in AutoZone were worth $3,161,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AZO. Headlands Technologies LLC acquired a new position in AutoZone in the fourth quarter valued at about $29,000. Flagship Wealth Advisors LLC purchased a new stake in AutoZone during the fourth quarter worth about $32,000. Harbour Investments Inc. increased its stake in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after purchasing an additional 3 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in AutoZone during the fourth quarter worth about $45,000. Finally, Itau Unibanco Holding S.A. increased its stake in AutoZone by 750.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company's stock worth $54,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wedbush reiterated an "outperform" rating and set a $3,700.00 price target on shares of AutoZone in a research note on Wednesday, March 5th. BMO Capital Markets reiterated an "outperform" rating and set a $4,100.00 price target (up from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Oppenheimer upgraded shares of 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. Truist Financial set a $3,995.00 price target on shares of AutoZone in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. upped their target price 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. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $4,072.24.

Insider Activity

In other news, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the sale, the senior vice president now directly owns 406 shares of the company's stock, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the completion of the sale, the chairman now directly owns 8,546 shares of the company's stock, valued at $31,696,515.78. The trade was a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,662 shares of company stock valued at $131,999,089. 2.10% of the stock is currently owned by company insiders.

AutoZone Stock Down 2.6%

Shares of AZO opened at $3,485.54 on Thursday. The stock has a 50 day moving average price of $3,696.27 and a 200 day moving average price of $3,529.06. The company has a market capitalization of $58.49 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.14 and a beta of 0.40. AutoZone, Inc. has a 52-week low of $2,801.49 and a 52-week high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly 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). The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $36.69 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS 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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