Bridges Investment Management Inc. Increases Position in AutoZone, Inc. (NYSE:AZO)

Bridges Investment Management Inc. grew its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 5.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,232 shares of the company's stock after acquiring an additional 427 shares during the period. Bridges Investment Management Inc.'s holdings in AutoZone were worth $31,387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of AutoZone during the 4th quarter valued at approximately $29,000. Flagship Wealth Advisors LLC bought a new position in shares of AutoZone during the 4th quarter valued at approximately $32,000. Harbour Investments Inc. grew its position in shares of AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after acquiring an additional 3 shares during the period. Cornerstone Planning Group LLC bought a new position in AutoZone in the 1st quarter worth approximately $44,000. Finally, Tradewinds Capital Management LLC grew its stake in AutoZone by 30.0% in the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock valued at $50,000 after buying an additional 3 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Activity at AutoZone

In related news, 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 transaction of $101,995,575.00. Following the transaction, the chairman owned 8,546 shares in the company, valued at $31,696,515.78. This represents a 76.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer owned 427 shares in the company, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,662 shares of company stock worth $131,999,089. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Roth Capital set a $4,135.00 price objective on shares of AutoZone and gave the company a "buy" rating in a research note on Monday, June 2nd. Morgan Stanley reiterated an "overweight" rating and issued a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Evercore ISI set a $3,950.00 price objective on shares of AutoZone in a research note on Monday, May 19th. Two 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's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $4,087.00.

AutoZone Trading Down 0.7%

Shares of AutoZone stock traded down $26.32 on Friday, hitting $3,702.16. 105,635 shares of the company traded hands, compared to its average volume of 130,844. The firm's 50-day simple moving average is $3,704.16 and its 200 day simple moving average is $3,562.97. The company has a market cap of $62.12 billion, a P/E ratio of 25.06, a P/E/G ratio of 2.21 and a beta of 0.39. AutoZone, Inc. has a 12-month low of $2,894.02 and a 12-month high of $3,916.81.

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

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.