Cornerstone Wealth Group LLC Purchases New Shares in AutoZone, Inc. (NYSE:AZO)

Cornerstone Wealth Group LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 141 shares of the company's stock, valued at approximately $539,000.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of AutoZone by 435,031.1% in the first 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 during the period. Proficio Capital Partners LLC lifted its position in AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after acquiring an additional 419,375 shares in the last quarter. Norges Bank acquired a new position in AutoZone in the 4th quarter worth $834,556,000. Wealthfront Advisers LLC boosted its stake in AutoZone by 6,083.9% in the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after purchasing an additional 89,190 shares during the period. Finally, Barclays PLC increased its holdings in AutoZone by 82.6% during the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after purchasing an additional 77,015 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AZO shares. DA Davidson boosted their price target on AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Truist Financial set a $3,995.00 price target on AutoZone in a research report on Friday, May 23rd. Roth Capital set a $4,135.00 price target on shares of AutoZone and gave the stock a "buy" rating in a research note on Monday, June 2nd. Finally, Oppenheimer raised shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price objective on the stock in a research report on Friday, May 2nd. Two investment 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 data from MarketBeat, the company has an average rating of "Buy" and an average price target of $4,072.24.

Insider Buying and Selling at AutoZone

In related news, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the transaction, the chief financial officer now owns 427 shares in the company, valued at approximately $1,591,877.35. This represents a 85.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Domingo Hurtado sold 4,800 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the sale, the vice president now owns 159 shares of the company's stock, valued at $581,940. This trade represents a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,662 shares of company stock valued at $131,999,089 in the last quarter. 2.10% of the stock is currently owned by insiders.

AutoZone Stock Performance

AutoZone stock traded up $30.94 during midday trading on Thursday, reaching $3,520.48. 204,154 shares of the company's stock were exchanged, compared to its average volume of 129,545. The stock's 50-day simple moving average is $3,696.27 and its 200 day simple moving average is $3,529.06. The firm has a market cap of $59.07 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 2.14 and a beta of 0.40. AutoZone, Inc. has a 52 week low of $2,801.49 and a 52 week high of $3,916.81.

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