Janney Montgomery Scott LLC Reduces Position in AutoZone, Inc. (NYSE:AZO)

Janney Montgomery Scott LLC lowered its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 11.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,438 shares of the company's stock after selling 191 shares during the period. Janney Montgomery Scott LLC's holdings in AutoZone were worth $5,483,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of AutoZone by 435,031.1% in the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after acquiring an additional 770,005 shares during the period. Proficio Capital Partners LLC raised its position in shares of AutoZone by 482,040.2% during 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 period. Norges Bank purchased a new stake in shares of AutoZone during the 4th quarter valued at approximately $834,556,000. Wealthfront Advisers LLC raised its position in shares of AutoZone by 6,083.9% during the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock valued at $290,281,000 after buying an additional 89,190 shares during the period. Finally, Barclays PLC raised its position in shares of AutoZone by 82.6% during the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after buying an additional 77,015 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of AZO opened at $3,644.12 on Monday. The company has a market capitalization of $61.15 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.19 and a beta of 0.40. The company's 50 day simple moving average is $3,698.71 and its 200 day simple moving average is $3,526.24. AutoZone, Inc. has a 1 year low of $2,801.49 and a 1 year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share 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 analysts' expectations of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $36.69 EPS. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on AZO. Evercore ISI set a $3,950.00 price target on shares of AutoZone in a research note on Monday, May 19th. DA Davidson boosted their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Roth Capital set a $4,135.00 price target on shares of AutoZone and gave the company a "buy" rating in a research report on Monday, June 2nd. Guggenheim boosted their price target on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Truist Financial set a $3,995.00 target price on shares of AutoZone in a report on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $4,072.24.

Insider Activity

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the business's stock in a transaction dated 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 sale, the chairman now directly owns 8,546 shares in the company, valued at approximately $31,696,515.78. The trade was a 76.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Domingo Hurtado sold 4,800 shares of AutoZone stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the completion of the transaction, the vice president now directly owns 159 shares in the company, valued at $581,940. This represents a 96.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,912 shares of company stock valued at $136,901,262. Company 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.

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