Callan Family Office LLC Lowers Position in AutoZone, Inc. (NYSE:AZO)

Key Points

• Callan Family Office LLC reduced its stake in AutoZone, Inc. by 26.1% during the 1st quarter, ending up with 571 shares valued at approximately $2.18 million.
• GAMMA Investing LLC made a significant increase in its position by raising its holdings by 435,031.1%, now owning over 770,000 shares valued at nearly $2.94 billion.
• Several analysts have upgraded AutoZone's stock ratings, with Bank of America raising its target price from $3,900 to $4,800 and a majority of analysts currently rating the stock as a "Buy."

Callan Family Office LLC lowered its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 26.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 571 shares of the company's stock after selling 202 shares during the quarter. Callan Family Office LLC's holdings in AutoZone were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AZO. Public Sector Pension Investment Board increased its position in AutoZone by 10.7% in the 1st quarter. Public Sector Pension Investment Board now owns 2,299 shares of the company's stock worth $8,766,000 after buying an additional 222 shares during the period. Todd Asset Management LLC grew its position in AutoZone by 2.5% in the first quarter. Todd Asset Management LLC now owns 21,654 shares of the company's stock valued at $82,561,000 after acquiring an additional 529 shares during the period. CCM Investment Group LLC acquired a new position in AutoZone in the first quarter worth $4,812,000. Nuveen LLC acquired a new position in AutoZone in the first quarter worth $442,530,000. Finally, Virtu Financial LLC acquired a new position in shares of AutoZone during the first quarter valued at $4,344,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Activity

In other news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the transaction, the senior vice president directly owned 406 shares in the company, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president 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. Over the last quarter, insiders have sold 33,862 shares of company stock valued at $126,058,789. Company insiders own 2.10% of the company's stock.

AutoZone Price Performance

Shares of NYSE:AZO traded up $15.45 during trading on Friday, reaching $4,007.93. 100,170 shares of the company were exchanged, compared to its average volume of 112,525. The firm has a market capitalization of $67.25 billion, a PE ratio of 27.13, a P/E/G ratio of 2.38 and a beta of 0.38. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,094.69. The business's fifty day simple moving average is $3,765.61 and its 200-day simple moving average is $3,665.87.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data 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). 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%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $36.69 EPS. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AZO shares. Mizuho upped their price target on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Truist Financial set a $3,995.00 price target on AutoZone in a research report on Friday, May 23rd. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating and set a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $4,087.00.

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.