AutoZone, Inc. (NYSE:AZO) Shares Sold by Conning Inc.

Conning Inc. lowered its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 60.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86 shares of the company's stock after selling 134 shares during the quarter. Conning Inc.'s holdings in AutoZone were worth $328,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sound View Wealth Advisors Group LLC grew its holdings in AutoZone by 2.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company's stock valued at $487,000 after purchasing an additional 3 shares during the last quarter. PDS Planning Inc grew its holdings in AutoZone by 2.3% during the 4th quarter. PDS Planning Inc now owns 132 shares of the company's stock valued at $423,000 after purchasing an additional 3 shares during the last quarter. Harbour Investments Inc. grew its holdings in 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 purchasing an additional 3 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in AutoZone by 0.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock valued at $1,188,000 after purchasing an additional 3 shares during the last quarter. Finally, Tandem Wealth Advisors LLC grew its holdings in AutoZone by 3.6% during the 4th quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock valued at $279,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

NYSE:AZO traded down $35.56 during midday trading on Tuesday, reaching $3,755.08. 60,755 shares of the stock traded hands, compared to its average volume of 130,072. AutoZone, Inc. has a 12-month low of $2,802.79 and a 12-month high of $3,916.81. The business has a 50-day moving average of $3,705.07 and a two-hundred day moving average of $3,552.20. The stock has a market capitalization of $63.01 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 2.25 and a beta of 0.39.

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 business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $36.69 EPS. Research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other news, VP Domingo Hurtado sold 4,800 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the transaction, the vice president directly owned 159 shares of the company's stock, valued at approximately $581,940. This trade represents a 96.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jamere Jackson sold 2,612 shares of AutoZone stock in a transaction dated Friday, May 30th. The stock was 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 directly owned 427 shares in the company, valued at $1,591,877.35. This trade represents a 85.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,662 shares of company stock valued at $131,999,089. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. DA Davidson upped their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and issued a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, 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. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus 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.