Hager Investment Management Services LLC Takes Position in AutoZone, Inc. (NYSE:AZO)

Hager Investment Management Services LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 275 shares of the company's stock, valued at approximately $1,049,000.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of AutoZone during the 4th quarter worth approximately $29,000. Flagship Wealth Advisors LLC acquired a new stake in AutoZone during the 4th quarter worth approximately $32,000. Harbour Investments Inc. lifted its holdings 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 buying an additional 3 shares in the last quarter. Cornerstone Planning Group LLC acquired a new stake in AutoZone during the 1st quarter worth approximately $44,000. Finally, Tradewinds Capital Management LLC lifted its holdings in AutoZone by 30.0% during the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after buying an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the transaction, the chairman directly owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. This trade represents a 76.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction on Friday, June 20th. The stock was 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 in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,662 shares of company stock valued at $131,999,089. Company insiders own 2.10% of the company's stock.

AutoZone Trading Down 0.4%

NYSE:AZO traded down $16.38 during midday trading on Wednesday, hitting $3,680.56. 110,795 shares of the company were exchanged, compared to its average volume of 130,608. The company has a fifty day simple moving average of $3,701.58 and a 200 day simple moving average of $3,570.51. AutoZone, Inc. has a fifty-two week low of $2,894.02 and a fifty-two week high of $3,916.81. The company has a market capitalization of $61.76 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 2.21 and a beta of 0.39.

AutoZone (NYSE:AZO - Get Free Report) last announced 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). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the prior year, the business earned $36.69 earnings per share. AutoZone's revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Analysts Set New Price Targets

AZO has been the topic of a number of research reports. Roth Capital set a $4,135.00 target price on shares of AutoZone and gave the stock a "buy" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. increased their target price on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Truist Financial set a $3,995.00 target price on shares of AutoZone in a report on Friday, May 23rd. Mizuho increased their target price on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Finally, Morgan Stanley restated an "overweight" rating and issued a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, AutoZone currently has an average rating of "Buy" and a consensus target price 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.