Eagle Rock Investment Company LLC Has $14.66 Million Holdings in AutoZone, Inc. (NYSE:AZO)

Eagle Rock Investment Company LLC lessened its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 9.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,846 shares of the company's stock after selling 408 shares during the period. AutoZone comprises approximately 2.5% of Eagle Rock Investment Company LLC's holdings, making the stock its 9th biggest position. Eagle Rock Investment Company LLC's holdings in AutoZone were worth $14,662,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in AutoZone during the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC bought a new stake in AutoZone during the 4th quarter worth approximately $32,000. Harbour Investments Inc. raised its stake in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after acquiring an additional 3 shares during the period. Minot DeBlois Advisors LLC bought a new stake in AutoZone during the 4th quarter worth approximately $45,000. Finally, Itau Unibanco Holding S.A. raised its stake in AutoZone by 750.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company's stock worth $54,000 after acquiring an additional 15 shares during the period. Institutional investors own 92.74% of the company's stock.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 2,850 shares of AutoZone stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the completion of the sale, the vice president now directly owns 2,924 shares in the company, valued at approximately $10,555,640. This trade represents a 49.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP K. Michelle Borninkhof sold 136 shares of AutoZone stock in a transaction on 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 owns 403 shares of the company's stock, valued at approximately $1,430,682.24. This trade represents a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,398 shares of company stock valued at $45,676,997 over the last three months. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on AZO. BMO Capital Markets restated an "outperform" rating and set a $4,100.00 target price (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. UBS Group lifted their price objective on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Argus cut shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Mizuho lifted their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. 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, AutoZone has an average rating of "Buy" and an average price target of $4,072.24.

AutoZone Stock Performance

NYSE AZO traded down $6.32 on Friday, hitting $3,718.93. 98,851 shares of the stock were exchanged, compared to its average volume of 128,754. The stock has a fifty day moving average price of $3,693.79 and a two-hundred day moving average price of $3,487.09. The firm has a market capitalization of $62.41 billion, a P/E ratio of 24.85, a P/E/G ratio of 1.86 and a beta of 0.40. AutoZone, Inc. has a 52-week low of $2,760.00 and a 52-week high of $3,916.81.

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