Zurcher Kantonalbank Zurich Cantonalbank Sells 76 Shares of AutoZone, Inc. (NYSE:AZO)

Key Points

• Zurcher Kantonalbank reduced its stake in AutoZone by 2.1%, owning 3,606 shares valued at approximately $13.7 million after selling 76 shares.
• Major investments include GAMMA Investing LLC, which increased its position by an impressive 435,031.1%, owning 770,182 shares worth around $2.9 billion.
• Analysts have set new price targets for AutoZone, with Bank of America raising its target to $4,800, and the average target price across analysts is currently $4,087.

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 2.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,606 shares of the company's stock after selling 76 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in AutoZone were worth $13,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC raised its position in AutoZone by 435,031.1% during the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares during the period. Barclays PLC increased its holdings in shares of AutoZone by 82.6% during the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after acquiring an additional 77,015 shares during the last quarter. Northern Trust Corp increased its holdings in shares of AutoZone by 22.0% during the 4th quarter. Northern Trust Corp now owns 204,748 shares of the company's stock valued at $655,603,000 after acquiring an additional 36,916 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of AutoZone during the 4th quarter valued at about $95,480,000. Finally, Deutsche Bank AG increased its holdings in shares of AutoZone by 14.6% during the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock valued at $655,840,000 after acquiring an additional 26,036 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Up 0.9%

AZO stock traded up $34.27 during midday trading on Friday, reaching $3,802.65. 11,446 shares of the company's stock traded hands, compared to its average volume of 132,671. The company has a 50-day simple moving average of $3,707.01 and a two-hundred day simple moving average of $3,610.63. The company has a market cap of $63.82 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.29 and a beta of 0.39. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $3,919.50.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $35.36 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 analyst estimates of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $36.69 earnings per share. Equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. BMO Capital Markets restated 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. Bank of America upgraded AutoZone from a "neutral" rating to a "buy" rating and increased their target price for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AutoZone currently has an average rating of "Buy" and an average price target of $4,087.00.

Insider Buying and Selling

In other news, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the chairman owned 8,546 shares in the company, 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. Insiders have sold 33,862 shares of company stock valued at $126,058,789 over the last 90 days. Company insiders own 2.10% of the company's stock.

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.