Baird Financial Group Inc. Has $5.08 Million Stock Position in AutoZone, Inc. $AZO

Key Points

• Baird Financial Group Inc. increased its stake in AutoZone, Inc. by 4.8% during the 1st quarter, holding 1,332 shares valued at approximately $5,079,000.
• Several institutional investors, including Vanguard Group and JPMorgan Chase, also raised their positions in AutoZone, highlighting strong institutional interest in the stock.
• Insider transactions included a significant sale by Chairman William C. Rhodes III, who sold 27,500 shares for a total of $101,995,575, decreasing his ownership by over 76%.

Baird Financial Group Inc. grew its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 4.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,332 shares of the company's stock after buying an additional 61 shares during the period. Baird Financial Group Inc.'s holdings in AutoZone were worth $5,079,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in AutoZone by 435,031.1% in the first 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 during the period. Nuveen LLC acquired a new position in shares of AutoZone in the first quarter worth about $442,530,000. JPMorgan Chase & Co. lifted its position in shares of AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after buying an additional 65,368 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of AutoZone during the fourth quarter valued at approximately $95,480,000. Finally, Deutsche Bank AG boosted its position in AutoZone by 14.6% during the fourth quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock worth $655,840,000 after acquiring an additional 26,036 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of recent analyst reports. DA Davidson upped their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and issued a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. UBS Group increased their price target on AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. BMO Capital Markets reiterated an "outperform" rating and issued a $4,100.00 price objective (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Guggenheim raised their price objective on shares of AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $4,148.90.

AutoZone Price Performance

Shares of NYSE AZO traded down $35.79 during mid-day trading on Wednesday, hitting $4,255.33. The company had a trading volume of 98,421 shares, compared to its average volume of 96,108. The stock has a market cap of $71.40 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.26 and a beta of 0.41. The firm's 50 day simple moving average is $3,963.00 and its two-hundred day simple moving average is $3,760.65. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,304.94.

Insider Activity at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president owned 406 shares in the company, valued at approximately $1,460,434.78. The trade was a 64.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.