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E Fund Management Co. Ltd. Takes $263,000 Position in AutoZone, Inc. (NYSE:AZO)

AutoZone logo with Retail/Wholesale background

Key Points

  • E Fund Management Co. Ltd. has made a new investment of approximately $263,000 in AutoZone, Inc., acquiring 69 shares in the first quarter.
  • Insider trading activity at AutoZone includes significant sales by the VP and Chairman, with insider ownership now at 2.10% after a total of 33,862 shares were sold.
  • AutoZone recently reported a miss on earnings per share at $35.36, below the consensus estimate of $37.07, despite a year-over-year revenue increase of 5.4%.
  • Want stock alerts on AutoZone? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

E Fund Management Co. Ltd. acquired a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 69 shares of the company's stock, valued at approximately $263,000.

Other hedge funds also recently modified their holdings of the company. AlphaCore Capital LLC acquired a new position in shares of AutoZone in the 1st quarter valued at about $27,000. Financial Network Wealth Advisors LLC lifted its holdings in AutoZone by 66.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock worth $38,000 after buying an additional 4 shares during the last quarter. Cornerstone Planning Group LLC acquired a new stake in shares of AutoZone during the first quarter worth $44,000. Minot DeBlois Advisors LLC bought a new position in AutoZone in the fourth quarter worth about $45,000. Finally, Clearstead Trust LLC acquired a new position in AutoZone during the 1st quarter valued at approximately $46,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Up 0.4%

NYSE:AZO traded up $15.45 during mid-day trading on Friday, reaching $4,007.93. 100,170 shares of the company were exchanged, compared to its average volume of 112,496. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,094.69. The company has a fifty day moving average of $3,765.61 and a 200 day moving average of $3,670.49. The stock has a market cap of $67.25 billion, a PE ratio of 27.13, a PEG ratio of 2.39 and a beta of 0.38.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly 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 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 quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $36.69 EPS. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction on Friday, June 20th. The shares were 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 $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the sale, the chairman directly owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. The trade was a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,862 shares of company stock valued at $126,058,789 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AZO shares. Truist Financial set a $3,995.00 price objective on AutoZone in a report on Friday, May 23rd. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a research note on Friday, May 23rd. Oppenheimer upgraded shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price target for the company in a research report on Friday, May 2nd. DA Davidson raised their price target on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Evercore ISI set a $3,950.00 price objective on AutoZone in a report on Monday, May 19th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $4,087.00.

View Our Latest Stock Analysis on AutoZone

AutoZone Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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