Avanza Fonder AB Trims Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Avanza Fonder AB cut its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 14.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,419 shares of the company's stock after selling 236 shares during the quarter. Avanza Fonder AB's holdings in AutoZone were worth $5,405,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Simplicity Wealth LLC purchased a new position in AutoZone in the first quarter worth about $648,000. GAMMA Investing LLC raised its holdings in AutoZone by 14.1% in the 1st quarter. GAMMA Investing LLC now owns 202 shares of the company's stock worth $770,000 after acquiring an additional 25 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in AutoZone by 2.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock worth $538,000 after acquiring an additional 3 shares during the last quarter. Farther Finance Advisors LLC lifted its position in AutoZone by 186.8% in the 1st quarter. Farther Finance Advisors LLC now owns 195 shares of the company's stock valued at $744,000 after acquiring an additional 127 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its position in AutoZone by 0.4% in the 1st quarter. Toth Financial Advisory Corp now owns 2,508 shares of the company's stock valued at $9,562,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial set a $3,995.00 price target on AutoZone in a report on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and set a $4,000.00 target price (up previously from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Roth Capital set a $4,135.00 price objective on shares of AutoZone and gave the company a "buy" rating in a research report on Monday, June 2nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $3,700.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $4,072.24.

AutoZone Stock Down 1.6%

NYSE:AZO traded down $57.68 during trading hours on Wednesday, hitting $3,655.89. 115,334 shares of the stock traded hands, compared to its average volume of 128,890. The company has a market cap of $61.35 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40. AutoZone, Inc. has a 1 year low of $2,792.14 and a 1 year high of $3,916.81. The stock has a 50 day moving average price of $3,689.06 and a 200 day moving average price of $3,498.68.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the business earned $36.69 earnings per share. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Domingo Hurtado sold 4,800 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the sale, the vice president now directly owns 159 shares in the company, valued at $581,940. The trade was a 96.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the completion of the transaction, the chief financial officer now directly owns 427 shares of the company's stock, valued at approximately $1,591,877.35. The trade was a 85.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,262 shares of company stock worth $45,194,187. Corporate insiders own 2.10% of the company's stock.

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.