AutoZone, Inc. (NYSE:AZO) Stock Position Raised by Allianz SE

Key Points

• Allianz SE increased its position in AutoZone shares by 3.5%, now owning a total of 2,229 shares valued at approximately $8.5 million.
• AutoZone's recent quarterly earnings report indicated an earnings per share (EPS) of $35.36, which missed the consensus estimate by $1.71, despite a 5.4% increase in revenue year-over-year.
• Several analysts have recently upgraded AutoZone’s stock, with target prices ranging from $3,950 to $4,850, and a consensus rating of "Buy" reflected in a strong sentiment among investors.

Allianz SE raised its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,229 shares of the company's stock after purchasing an additional 75 shares during the period. Allianz SE's holdings in AutoZone were worth $8,499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Tandem Wealth Advisors LLC grew its holdings in shares of AutoZone by 3.6% during the 4th quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock worth $279,000 after purchasing an additional 3 shares in the last quarter. United Capital Financial Advisors LLC boosted its stake in AutoZone by 0.3% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company's stock valued at $3,585,000 after buying an additional 3 shares in the last quarter. Forum Financial Management LP boosted its stake 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 buying an additional 3 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake 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 buying an additional 3 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its stake in AutoZone by 2.9% in the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after buying an additional 3 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,858.37 on Friday. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $3,919.50. The business has a 50-day moving average of $3,707.59 and a two-hundred day moving average of $3,617.83. The company has a market capitalization of $64.74 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 2.30 and a beta of 0.38.

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 negative return on equity of 56.07% and a net margin of 13.56%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter last year, the company earned $36.69 earnings per share. The firm's revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AZO. Evercore ISI set a $3,950.00 price target on AutoZone in a research note on Monday, May 19th. Roth Capital set a $4,135.00 price objective on AutoZone and gave the stock a "buy" rating in a research note on Monday, June 2nd. Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. DA Davidson boosted their price objective on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, Oppenheimer upgraded AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 target price for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $4,087.00.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares of the company's stock, valued at $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owned 8,546 shares of the company's stock, 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 ninety days. 2.10% of the stock is owned by insiders.

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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