HB Wealth Management LLC Increases Stake in AutoZone, Inc. (NYSE:AZO)

Key Points

• HB Wealth Management LLC increased its stake in AutoZone, Inc. by 10.7% during the first quarter, owning a total of 1,413 shares valued at approximately $5.39 million.
• Recent insider trading saw CFO Jamere Jackson sell 2,612 shares for around $9.74 million, reducing his ownership by 85.95%.
• AutoZone's stock has a market cap of $64.09 billion and its share price recently opened at $3,819.20, with a 1-year high of $3,916.81.

HB Wealth Management LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,413 shares of the company's stock after purchasing an additional 137 shares during the quarter. HB Wealth Management LLC's holdings in AutoZone were worth $5,388,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AZO. Brighton Jones LLC increased its position in shares of AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after purchasing an additional 14 shares during the last quarter. LPL Financial LLC increased its position in shares of AutoZone by 18.9% during the 4th quarter. LPL Financial LLC now owns 11,869 shares of the company's stock valued at $38,004,000 after purchasing an additional 1,886 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of AutoZone during the 4th quarter valued at approximately $410,000. Nomura Asset Management Co. Ltd. increased its position in shares of AutoZone by 0.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,608 shares of the company's stock valued at $21,159,000 after purchasing an additional 19 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of AutoZone by 8.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,368 shares of the company's stock valued at $49,208,000 after purchasing an additional 1,187 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. UBS Group upped their price objective on AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. DA Davidson upped their price objective on AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Roth Capital set a $4,135.00 price objective on AutoZone and gave the company a "buy" rating in a research report on Monday, June 2nd. Finally, Mizuho upped their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $4,087.00.

Insider Buying and Selling at AutoZone

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the stock in a transaction that occurred on 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 directly owned 427 shares in the company, valued at $1,591,877.35. This represents a 85.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,862 shares of company stock worth $126,058,789 over the last ninety days. Company insiders own 2.10% of the company's stock.

AutoZone Price Performance

AutoZone stock traded down $11.13 during trading on Wednesday, reaching $3,862.72. 46,665 shares of the company were exchanged, compared to its average volume of 132,803. AutoZone, Inc. has a 52-week low of $2,898.57 and a 52-week high of $3,919.50. The stock's 50 day simple moving average is $3,709.54 and its two-hundred day simple moving average is $3,605.41. The company has a market capitalization of $64.82 billion, a P/E ratio of 26.14, a PEG ratio of 2.27 and a beta of 0.39.

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

AutoZone Company 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.