Vanguard Group Inc. Acquires 13,643 Shares of AutoZone, Inc. (NYSE:AZO)

Key Points

• Vanguard Group Inc. increased its holdings in AutoZone by 0.8% during the first quarter, owning approximately 10.49% of the company with a total stake valued at about $6.71 billion.
• AutoZone's stock price rose by 1.7%, opening at $4,081.22, with a 52-week high of $4,094.69.
• The company reported $35.36 earnings per share (EPS) for the last quarter, which fell short of the consensus estimate, while revenue increased 5.4% year-over-year.

Vanguard Group Inc. increased its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,759,862 shares of the company's stock after purchasing an additional 13,643 shares during the quarter. Vanguard Group Inc. owned approximately 10.49% of AutoZone worth $6,709,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in AutoZone during the fourth quarter worth about $29,000. Cornerstone Planning Group LLC bought a new stake in AutoZone during the 1st quarter valued at about $44,000. Minot DeBlois Advisors LLC bought a new stake in AutoZone during the 4th quarter valued at about $45,000. Clearstead Trust LLC bought a new stake in AutoZone during the 1st quarter valued at about $46,000. Finally, Tradewinds Capital Management LLC grew its stake in shares of AutoZone by 30.0% in the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Performance

NYSE AZO traded down $23.36 during trading on Friday, hitting $4,036.97. The stock had a trading volume of 93,619 shares, compared to its average volume of 114,182. The stock has a market capitalization of $67.74 billion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 2.42 and a beta of 0.38. AutoZone, Inc. has a one year low of $2,898.57 and a one year high of $4,094.69. The stock has a 50 day simple moving average of $3,737.09 and a 200 day simple moving average of $3,642.69.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $37.07 by ($1.71). The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $36.69 EPS. On average, sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Activity at AutoZone

In other news, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the sale, the senior vice president owned 406 shares of the company's stock, valued at approximately $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman William C. Rhodes III sold 27,500 shares of AutoZone 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 transaction of $101,995,575.00. Following the sale, the chairman directly owned 8,546 shares of the company's stock, valued at $31,696,515.78. This represents a 76.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,862 shares of company stock worth $126,058,789. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Mizuho lifted their price target on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Truist Financial set a $3,995.00 target price on AutoZone in a research note on Friday, May 23rd. BMO Capital Markets reissued an "outperform" rating and set a $4,100.00 target price (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a research note on Friday, May 23rd. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $4,087.00.

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.