Bank of New York Mellon Corp Sells 1,627 Shares of AutoZone, Inc. (NYSE:AZO)

Bank of New York Mellon Corp reduced its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,021 shares of the company's stock after selling 1,627 shares during the quarter. Bank of New York Mellon Corp owned 0.73% of AutoZone worth $465,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of AutoZone by 19.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,607 shares of the company's stock valued at $6,127,000 after acquiring an additional 260 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of AutoZone by 10.2% during the first quarter. IFM Investors Pty Ltd now owns 3,660 shares of the company's stock valued at $13,955,000 after purchasing an additional 340 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of AutoZone by 16.2% during the first quarter. OneDigital Investment Advisors LLC now owns 129 shares of the company's stock worth $492,000 after purchasing an additional 18 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of AutoZone by 15.7% in the first quarter. D.A. Davidson & CO. now owns 1,281 shares of the company's stock valued at $4,884,000 after buying an additional 174 shares during the period. Finally, Smart Money Group LLC raised its holdings in AutoZone by 17.4% in the 1st quarter. Smart Money Group LLC now owns 276 shares of the company's stock valued at $1,052,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Stock Up 0.5%

AZO traded up $19.22 during trading on Monday, hitting $3,788.48. The company's stock had a trading volume of 115,769 shares, compared to its average volume of 130,327. The firm has a market cap of $63.57 billion, a PE ratio of 25.64, a P/E/G ratio of 2.25 and a beta of 0.39. AutoZone, Inc. has a one year low of $2,802.79 and a one year high of $3,916.81. The business's 50 day simple moving average is $3,701.69 and its 200-day simple moving average is $3,548.45.

AutoZone (NYSE:AZO - Get Free Report) last released 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). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The firm had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. During the same quarter last year, the firm posted $36.69 EPS. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company set a $4,200.00 target price on shares of AutoZone and gave the stock an "overweight" rating in a report on Monday, May 19th. Evercore ISI set a $3,950.00 price objective on AutoZone in a research note on Monday, May 19th. 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 report on Friday, May 2nd. Bank of America raised shares of AutoZone from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Finally, Mizuho lifted their price objective on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research report on Thursday. 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 data from MarketBeat, AutoZone currently has an average rating of "Buy" and an average price target of $4,087.00.

Insider Activity at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president owned 406 shares in the company, valued at $1,460,434.78. This trade represents a 64.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 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. In the last 90 days, insiders sold 35,662 shares of company stock valued at $131,999,089. Corporate insiders own 2.10% of the company's stock.

AutoZone 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.