International Assets Investment Management LLC Buys 84 Shares of AutoZone, Inc. (NYSE:AZO)

International Assets Investment Management LLC grew its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 25.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417 shares of the company's stock after acquiring an additional 84 shares during the period. International Assets Investment Management LLC's holdings in AutoZone were worth $1,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its stake in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after acquiring an additional 14 shares during the last quarter. Global Retirement Partners LLC lifted its stake in AutoZone by 23.1% in the 4th quarter. Global Retirement Partners LLC now owns 48 shares of the company's stock valued at $154,000 after purchasing an additional 9 shares during the last quarter. IFP Advisors Inc lifted its stake in AutoZone by 44.4% in the 4th quarter. IFP Advisors Inc now owns 257 shares of the company's stock valued at $831,000 after purchasing an additional 79 shares during the last quarter. Crestwood Advisors Group LLC grew its holdings in AutoZone by 26.9% during the fourth quarter. Crestwood Advisors Group LLC now owns 151 shares of the company's stock worth $484,000 after purchasing an additional 32 shares during the period. Finally, Prasad Wealth Partners LLC acquired a new position in AutoZone during the fourth quarter worth approximately $432,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial set a $3,995.00 price objective on AutoZone in a research report on Friday, May 23rd. Argus cut AutoZone from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Roth Mkm raised their price target on AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Mizuho upped their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $4,100.00 price objective (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $4,072.24.

AutoZone Price Performance

AutoZone stock traded up $30.94 during mid-day trading on Thursday, reaching $3,520.48. 204,154 shares of the company were exchanged, compared to its average volume of 129,545. The company has a fifty day simple moving average of $3,696.27 and a 200-day simple moving average of $3,529.06. The firm has a market cap of $59.07 billion, a PE ratio of 23.83, a PEG ratio of 2.14 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $2,801.49 and a 12 month high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results 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 negative return on equity of 56.07% and a net margin of 13.56%. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the business posted $36.69 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman William C. Rhodes III sold 27,500 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the sale, the chairman now directly owns 8,546 shares of the company's stock, valued at $31,696,515.78. This trade represents a 76.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the transaction, the senior vice president now owns 406 shares in the company, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,662 shares of company stock worth $131,999,089 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

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.