495 Shares in AutoZone, Inc. $AZO Bought by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP invested approximately $1.89 million in AutoZone, acquiring 495 shares during the first quarter, signaling confidence in the company's future.
• Chairman William C. Rhodes III sold 27,500 shares at an average price of $3,708.93, reducing his ownership by 76.29%, which raises questions about insider sentiment.
• AutoZone's stock has a market capitalization of $70.22 billion and has been given an average rating of "Buy" by analysts, with a consensus price target of $4,148.90.

Concentric Capital Strategies LP purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 495 shares of the company's stock, valued at approximately $1,887,000.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares in the last quarter. Nuveen LLC purchased a new position in shares of AutoZone during the 1st quarter valued at about $442,530,000. JPMorgan Chase & Co. raised its holdings 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 purchased a new position in shares of AutoZone during the 4th quarter valued at about $95,480,000. Finally, Deutsche Bank AG raised its holdings in shares of AutoZone by 14.6% during the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock valued at $655,840,000 after buying an additional 26,036 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

AutoZone Stock Up 0.3%

Shares of AZO traded up $14.48 during mid-day trading on Tuesday, hitting $4,257.36. 48,682 shares of the company's stock traded hands, compared to its average volume of 128,327. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,259.21. The firm has a market capitalization of $71.44 billion, a P/E ratio of 28.80, a PEG ratio of 2.22 and a beta of 0.41. The business's 50-day moving average price is $3,940.19 and its 200-day moving average price is $3,753.48.

Insider Activity at AutoZone

In other news, SVP K. Michelle Borninkhof sold 750 shares of the business'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 transaction, the senior vice president directly owned 406 shares of the company's stock, valued at approximately $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. 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 that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares in the company, valued at $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 currently owned by insiders.

Analysts Set New Price Targets

AZO has been the topic of a number of research reports. Guggenheim raised their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. UBS Group raised their price objective on AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Truist Financial set a $3,995.00 price target on AutoZone in a research note on Friday, May 23rd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Roth Capital set a $4,135.00 price target on AutoZone and gave the stock a "buy" rating in a research note on Monday, June 2nd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, AutoZone presently has a consensus rating of "Buy" and an average target price of $4,148.90.

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.