AutoZone, Inc. (NYSE:AZO) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 989 shares of the company's stock after selling 98 shares during the quarter. Exchange Traded Concepts LLC's holdings in AutoZone were worth $3,771,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. SFM LLC acquired a new stake in shares of AutoZone during the first quarter worth $999,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of AutoZone by 167.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 21,213 shares of the company's stock worth $80,880,000 after purchasing an additional 13,284 shares during the period. Everpar Advisors LLC acquired a new stake in shares of AutoZone during the first quarter worth $263,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AutoZone by 21.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,261 shares of the company's stock worth $27,688,000 after purchasing an additional 1,300 shares during the period. Finally, Jackson Square Capital LLC acquired a new stake in shares of AutoZone during the first quarter worth $206,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AZO shares. Oppenheimer raised AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 target price for the company in a report on Friday, May 2nd. Raymond James reissued a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the company an "overweight" rating in a report on Monday, May 19th. The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a report on Friday, May 23rd. Finally, Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and raised their target price for the company from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AutoZone currently has an average rating of "Buy" and a consensus target price of $4,072.24.

Insider Buying and Selling

In other AutoZone news, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the completion of the sale, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. The trade was a 92.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 27,500 shares of AutoZone stock in a transaction dated 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 owns 8,546 shares of the company's stock, valued at $31,696,515.78. This trade represents a 76.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,762 shares of company stock worth $147,189,762. 2.10% of the stock is owned by corporate insiders.

AutoZone Trading Down 1.2%

AutoZone stock opened at $3,600.02 on Tuesday. The stock has a market cap of $60.42 billion, a PE ratio of 24.05, a P/E/G ratio of 1.86 and a beta of 0.40. The stock has a 50-day moving average price of $3,697.70 and a 200 day moving average price of $3,514.37. 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 posted its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The company had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $36.69 EPS. On average, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current 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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