Illinois Municipal Retirement Fund trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 20.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,540 shares of the company's stock after selling 903 shares during the period. Illinois Municipal Retirement Fund's holdings in AutoZone were worth $13,497,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of AutoZone by 435,031.1% during the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after buying an additional 770,005 shares during the period. Proficio Capital Partners LLC raised its position in AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after buying an additional 419,375 shares during the last quarter. Norges Bank bought a new stake in AutoZone in the 4th quarter valued at approximately $834,556,000. Wealthfront Advisers LLC boosted its position in AutoZone by 6,083.9% during the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock worth $290,281,000 after acquiring an additional 89,190 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of AutoZone by 82.6% during the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after acquiring an additional 77,015 shares in the last quarter. 92.74% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on AZO. JPMorgan Chase & Co. boosted their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. UBS Group increased their price objective on shares of AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Roth Mkm raised their price objective on AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Truist Financial set a $3,995.00 target price on AutoZone in a report on Friday, May 23rd. Finally, Bank of America upgraded AutoZone from a "neutral" rating to a "buy" rating and raised their price target for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, AutoZone currently has an average rating of "Buy" and an average target price of $4,072.24.
Get Our Latest Report on AutoZone
Insider Buying and Selling at AutoZone
In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction that occurred 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 now owns 8,546 shares in the company, valued at $31,696,515.78. This represents a 76.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jamere Jackson sold 2,612 shares of AutoZone 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 transaction of $9,737,666.60. Following the completion of the sale, the chief financial officer now owns 427 shares of the company's stock, valued at approximately $1,591,877.35. The trade was a 85.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,662 shares of company stock valued at $131,999,089 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.
AutoZone Stock Performance
AZO traded up $103.91 on Monday, reaching $3,713.40. The company had a trading volume of 144,743 shares, compared to its average volume of 136,124. The stock has a market cap of $62.31 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.16 and a beta of 0.40. AutoZone, Inc. has a fifty-two week low of $2,801.49 and a fifty-two week high of $3,916.81. The company's fifty day moving average is $3,694.76 and its 200 day moving average is $3,534.79.
AutoZone (NYSE:AZO - Get Free Report) last posted its 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 firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. AutoZone's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $36.69 EPS. On average, sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.
About AutoZone
(
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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