AutoZone, Inc. (NYSE:AZO) Stock Position Decreased by Alta Capital Management LLC

Alta Capital Management LLC cut its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,617 shares of the company's stock after selling 493 shares during the quarter. AutoZone accounts for 2.6% of Alta Capital Management LLC's portfolio, making the stock its 16th largest holding. Alta Capital Management LLC owned 0.06% of AutoZone worth $40,480,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AZO. GAMMA Investing LLC boosted its stake in shares of AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after acquiring an additional 770,005 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock worth $1,343,117,000 after buying an additional 419,375 shares during the period. Norges Bank acquired a new stake in shares of AutoZone in the fourth quarter worth $834,556,000. Wealthfront Advisers LLC boosted its position in shares of AutoZone by 6,083.9% in the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after buying an additional 89,190 shares during the period. Finally, Barclays PLC boosted its position in shares of AutoZone by 82.6% in the fourth quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after buying an additional 77,015 shares during the period. 92.74% of the stock is owned by institutional investors.

Insider Activity at AutoZone

In related news, VP Domingo Hurtado sold 4,800 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the transaction, the vice president now directly owns 159 shares in the company, valued at $581,940. The trade was a 96.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the transaction, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. This represents a 92.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,912 shares of company stock worth $136,901,262 over the last three months. Company insiders own 2.10% of the company's stock.

AutoZone Stock Performance

AutoZone stock opened at $3,599.90 on Friday. The business's 50-day simple moving average is $3,698.95 and its 200-day simple moving average is $3,518.49. The firm has a market capitalization of $60.41 billion, a PE ratio of 24.36, a PEG ratio of 2.15 and a beta of 0.40. 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 business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $36.69 earnings per share. Research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Mizuho raised their target price on AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Evercore ISI set a $3,950.00 target price on AutoZone in a research report on Monday, May 19th. JPMorgan Chase & Co. lifted their price objective on AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Finally, Roth Capital set a $4,135.00 price objective on AutoZone and gave the company a "buy" rating in a research report on Monday, June 2nd. Two 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 MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $4,072.24.

AutoZone Company 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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