Aberdeen Group plc Buys 6,005 Shares of AutoZone, Inc. $AZO

Key Points

• Aberdeen Group plc significantly increased its holdings in AutoZone by 101.6% during the first quarter, now owning approximately 0.07% of the company valued at $45.47 million.
• Insider trading shows significant selling activity with K. Michelle Borninkhof and Richard Craig Smith selling a combined total of over $14 million in shares, indicating a 64.88% and 50.63% decrease in their respective ownership stakes.
• AutoZone reported earnings of $35.36 EPS for the last quarter, missing analyst expectations, though revenue increased by 5.4% year-over-year to $4.46 billion.

Aberdeen Group plc increased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 101.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,913 shares of the company's stock after acquiring an additional 6,005 shares during the period. Aberdeen Group plc owned about 0.07% of AutoZone worth $45,465,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of AutoZone by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company's stock valued at $6,709,967,000 after buying an additional 13,643 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of AutoZone by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after purchasing an additional 65,368 shares during the period. GAMMA Investing LLC lifted its stake in shares of AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after purchasing an additional 770,005 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of AutoZone by 5.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company's stock valued at $1,039,421,000 after purchasing an additional 17,518 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of AutoZone by 14.6% in the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock valued at $655,840,000 after purchasing an additional 26,036 shares during the period. Institutional investors own 92.74% of the company's stock.

AutoZone Trading Up 2.2%

Shares of AZO traded up $88.7410 on Tuesday, reaching $4,128.6910. 110,013 shares of the company's stock traded hands, compared to its average volume of 131,202. The stock has a market cap of $69.28 billion, a PE ratio of 27.94, a PEG ratio of 2.39 and a beta of 0.38. The stock's 50 day simple moving average is $3,772.66 and its two-hundred day simple moving average is $3,675.33. AutoZone, Inc. has a 52-week low of $2,898.57 and a 52-week high of $4,138.36.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The business had revenue of $4.46 billion for the quarter, compared to analysts' expectations 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 was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $36.69 earnings per share. Analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Transactions at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 27,500 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was 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 directly owned 8,546 shares of the company's stock, valued at $31,696,515.78. This represents 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 33,862 shares of company stock valued at $126,058,789. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a research note on Friday, May 23rd. DA Davidson upped their price target on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Oppenheimer raised 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. Finally, JPMorgan Chase & Co. upped their price target on AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $4,101.29.

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.