AutoZone, Inc. (NYSE:AZO) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 44.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,619 shares of the company's stock after selling 6,122 shares during the period. Teacher Retirement System of Texas' holdings in AutoZone were worth $29,050,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at about $29,000. Flagship Wealth Advisors LLC acquired a new position in AutoZone during the 4th quarter worth approximately $32,000. Harbour Investments Inc. boosted its holdings in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after acquiring an additional 3 shares during the period. Minot DeBlois Advisors LLC purchased a new position in AutoZone in the 4th quarter worth approximately $45,000. Finally, Tradewinds Capital Management LLC grew its position in AutoZone by 30.0% in the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock valued at $50,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the firm's 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 value of $2,697,847.50. Following the sale, the senior vice president owned 406 shares in the company, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Domingo Hurtado sold 4,800 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the transaction, the vice president owned 159 shares of the company's stock, valued at approximately $581,940. This represents a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,662 shares of company stock valued at $131,999,089. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AZO shares. The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Mizuho boosted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research note on Thursday. Morgan Stanley reissued an "overweight" rating and issued a $4,000.00 price target (up previously from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Finally, Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $4,087.00.

AutoZone Price Performance

NYSE:AZO opened at $3,667.00 on Friday. The firm has a market capitalization of $61.53 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.20 and a beta of 0.39. The business has a 50 day simple moving average of $3,700.47 and a 200 day simple moving average of $3,541.64. AutoZone, Inc. has a 12-month low of $2,801.49 and a 12-month 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 the consensus estimate of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period last year, the firm posted $36.69 EPS. The business's revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

About AutoZone

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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