AutoZone, Inc. (NYSE:AZO) Stock Position Lifted by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in AutoZone, Inc. by 25.6%, owning 112,234 shares valued at approximately $427.9 million following an acquisition of additional shares in the first quarter.
• Insiders, including VP Richard Craig Smith and CFO Jamere Jackson, have significantly reduced their positions, with total sales of 33,862 shares worth over $126 million in the last quarter.
• Despite a missed earnings consensus, AutoZone's quarterly revenue increased 5.4% year-over-year, and analysts currently have a consensus rating of "Buy" for the stock.

Invesco Ltd. boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 25.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 112,234 shares of the company's stock after buying an additional 22,849 shares during the quarter. Invesco Ltd. owned 0.67% of AutoZone worth $427,923,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. United Capital Financial Advisors LLC increased its position in AutoZone by 0.3% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company's stock worth $3,585,000 after purchasing an additional 3 shares in the last quarter. Forum Financial Management LP increased its position in AutoZone by 2.2% during the 4th quarter. Forum Financial Management LP now owns 138 shares of the company's stock worth $443,000 after purchasing an additional 3 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in AutoZone by 2.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock worth $538,000 after purchasing an additional 3 shares in the last quarter. Focus Financial Network Inc. increased its position in AutoZone by 2.9% during the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock worth $400,000 after purchasing an additional 3 shares in the last quarter. Finally, Blue Trust Inc. increased its position in AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, the vice president owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jamere Jackson sold 2,612 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the transaction, the chief financial officer directly owned 427 shares of the company's stock, valued at approximately $1,591,877.35. The trade was a 85.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,862 shares of company stock valued at $126,058,789 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AZO. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. Guggenheim lifted their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Mizuho lifted their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Finally, Roth Capital set a $4,135.00 price objective on AutoZone and gave the company a "buy" rating in a research note on Monday, June 2nd. Two 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 stock. According to MarketBeat, AutoZone has a consensus rating of "Buy" and a consensus price target of $4,087.00.

AutoZone Stock Performance

Shares of NYSE AZO traded down $36.20 during trading on Tuesday, reaching $4,000.59. The stock had a trading volume of 95,646 shares, compared to its average volume of 112,056. AutoZone, Inc. has a one year low of $2,898.57 and a one year high of $4,094.69. The stock has a market cap of $67.13 billion, a PE ratio of 27.08, a P/E/G ratio of 2.41 and a beta of 0.38. The firm's 50 day moving average price is $3,747.90 and its two-hundred day moving average price is $3,654.19.

AutoZone (NYSE:AZO - Get Free Report) last issued 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). The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. AutoZone's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $36.69 earnings per share. On average, research analysts expect 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.