Benjamin Edwards Inc. Purchases 149 Shares of AutoZone, Inc. (NYSE:AZO)

Key Points

• Benjamin Edwards Inc. increased its holdings in AutoZone, Inc. by 11.3%, now owning 1,467 shares valued at approximately $5.6 million.
• Recent insider trading saw Chairman William C. Rhodes III selling 27,500 shares for over $101 million, reducing his ownership by 76.29%.
• Wall Street analysts have set price targets for AutoZone ranging from $3,950 to $4,600, with the stock receiving mostly "buy" ratings.

Benjamin Edwards Inc. increased its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,467 shares of the company's stock after purchasing an additional 149 shares during the quarter. Benjamin Edwards Inc.'s holdings in AutoZone were worth $5,593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after purchasing an additional 14 shares during the last quarter. F M Investments LLC purchased a new position in shares of AutoZone during the 4th quarter valued at about $247,000. Sterling Capital Management LLC raised its stake in shares of AutoZone by 4.9% during the 4th quarter. Sterling Capital Management LLC now owns 668 shares of the company's stock valued at $2,139,000 after buying an additional 31 shares during the last quarter. Crux Wealth Advisors purchased a new position in shares of AutoZone during the 4th quarter valued at about $231,000. Finally, Townsquare Capital LLC raised its stake in shares of AutoZone by 31.4% during the 4th quarter. Townsquare Capital LLC now owns 1,231 shares of the company's stock valued at $3,942,000 after buying an additional 294 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Activity

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the company's 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 in the company, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,862 shares of company stock worth $126,058,789 over the last three months. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AZO shares. Evercore ISI set a $3,950.00 target price on AutoZone in a research report on Monday, May 19th. Oppenheimer raised shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 target price on the stock in a research note on Friday, May 2nd. Wells Fargo & Company set a $4,200.00 target price on shares of AutoZone and gave the stock an "overweight" rating in a research note on Monday, May 19th. The Goldman Sachs Group set a $3,811.00 price target on shares of AutoZone in a research report on Friday, May 23rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $4,100.00 price target (up previously from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $4,087.00.

AutoZone Stock Down 0.6%

Shares of NYSE:AZO opened at $4,036.97 on Monday. AutoZone, Inc. has a fifty-two week low of $2,898.57 and a fifty-two week high of $4,094.69. The company has a market cap of $67.74 billion, a PE ratio of 27.32, a P/E/G ratio of 2.41 and a beta of 0.38. The company's 50-day moving average price is $3,737.09 and its 200 day moving average price is $3,646.80.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter last year, the firm posted $36.69 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

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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