AutoZone, Inc. (NYSE:AZO) Stock Holdings Boosted by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group Capital Management L.L.C. increased its holdings in AutoZone by 6.7%, acquiring a total of 1,345 shares valued at approximately $5.13 million, making it the fund's 29th largest holding.
• AutoZone's Chairman, William C. Rhodes III, and CFO Jamere Jackson sold significant portions of their shares, resulting in a 76.29% and 85.95% decrease in their positions, respectively.
• Brokerage firm DA Davidson raised its price target for AutoZone shares from $4,192 to $4,850, contributing to a consensus rating of "Buy" with an average target price of $4,087.

Prescott Group Capital Management L.L.C. lifted its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,345 shares of the company's stock after acquiring an additional 84 shares during the period. AutoZone accounts for 0.7% of Prescott Group Capital Management L.L.C.'s portfolio, making the stock its 29th biggest holding. Prescott Group Capital Management L.L.C.'s holdings in AutoZone were worth $5,128,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AZO. Meeder Advisory Services Inc. lifted its holdings in AutoZone by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock worth $1,188,000 after purchasing an additional 3 shares during the period. Tandem Wealth Advisors LLC lifted its holdings in AutoZone by 3.6% in the fourth quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock worth $279,000 after purchasing an additional 3 shares during the period. United Capital Financial Advisors LLC lifted its holdings in AutoZone by 0.3% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company's stock worth $3,585,000 after purchasing an additional 3 shares during the period. Forum Financial Management LP lifted its holdings in AutoZone by 2.2% in the 4th quarter. Forum Financial Management LP now owns 138 shares of the company's stock valued at $443,000 after acquiring an additional 3 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in AutoZone by 2.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after acquiring an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Activity

In other news, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction dated 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 transaction, the chairman owned 8,546 shares in the company, valued at $31,696,515.78. This represents a 76.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the transaction, the chief financial officer owned 427 shares in the company, valued at $1,591,877.35. This represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,862 shares of company stock worth $114,431,089 in the last 90 days. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AZO. DA Davidson upped their price target on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. BMO Capital Markets reissued an "outperform" rating and issued a $4,100.00 price target (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Roth Capital set a $4,135.00 price target on shares of AutoZone and gave the company a "buy" rating in a report on Monday, June 2nd. Truist Financial set a $3,995.00 price target on shares of AutoZone in a report on Friday, May 23rd. Finally, Evercore ISI set a $3,950.00 price target on shares of AutoZone in a report on Monday, May 19th. Two equities 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. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $4,087.00.

AutoZone Price Performance

Shares of AZO opened at $3,847.96 on Friday. The company has a market capitalization of $64.57 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 2.25 and a beta of 0.39. AutoZone, Inc. has a fifty-two week low of $2,898.57 and a fifty-two week high of $3,916.81. The business's 50-day moving average is $3,710.55 and its 200-day moving average is $3,591.79.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The business 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%. AutoZone's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $36.69 EPS. Equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share 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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