E. Ohman J or Asset Management AB Takes Position in AutoZone, Inc. (NYSE:AZO)

E. Ohman J or Asset Management AB purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 733 shares of the company's stock, valued at approximately $2,795,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Chesley Taft & Associates LLC lifted its holdings in shares of AutoZone by 2.8% during the 1st quarter. Chesley Taft & Associates LLC now owns 5,969 shares of the company's stock valued at $22,758,000 after buying an additional 164 shares during the period. L. Roy Papp & Associates LLP lifted its holdings in shares of AutoZone by 7.1% during the 1st quarter. L. Roy Papp & Associates LLP now owns 75 shares of the company's stock valued at $286,000 after buying an additional 5 shares during the period. Contravisory Investment Management Inc. lifted its holdings in shares of AutoZone by 3.3% during the 1st quarter. Contravisory Investment Management Inc. now owns 254 shares of the company's stock valued at $968,000 after buying an additional 8 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of AutoZone by 5.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 709 shares of the company's stock valued at $2,703,000 after buying an additional 38 shares during the period. Finally, Crestmont Private Wealth LLC lifted its holdings in shares of AutoZone by 16.5% during the 1st quarter. Crestmont Private Wealth LLC now owns 162 shares of the company's stock valued at $618,000 after buying an additional 23 shares during the period. 92.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AZO has been the topic of a number of recent research reports. Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and raised their target price for the stock from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a report on Friday, May 23rd. DA Davidson raised their target price on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. raised their target price on AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Evercore ISI set a $3,950.00 target price on AutoZone in a report on Monday, May 19th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone has an average rating of "Buy" and a consensus target price of $4,072.24.

Insider Transactions at AutoZone

In other news, SVP K. Michelle Borninkhof sold 136 shares of AutoZone stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total value of $482,810.88. Following the sale, the senior vice president now directly owns 403 shares of the company's stock, valued at approximately $1,430,682.24. The trade was a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of AutoZone stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the sale, the vice president now directly owns 159 shares in the company, 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. Over the last three months, insiders have sold 12,398 shares of company stock valued at $45,676,997. 2.10% of the stock is currently owned by insiders.

AutoZone Stock Down 0.2%

Shares of AutoZone stock opened at $3,718.93 on Friday. AutoZone, Inc. has a twelve month low of $2,760.00 and a twelve month high of $3,916.81. The business has a 50-day moving average price of $3,693.79 and a 200-day moving average price of $3,487.09. The firm has a market cap of $62.41 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.86 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the firm posted $36.69 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.

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