AutoZone, Inc. (NYSE:AZO) Stock Holdings Lifted by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in AutoZone by 7.5% in Q1, owning approximately 5.58% of the company, valued at $3.57 billion.
• Corporate insiders have sold a total of 33,862 shares of AutoZone stock recently, valued at $126 million, indicating significant insider sell-off activity.
• Analysts have set new price targets for AutoZone, with the consensus rating being "Buy" and an average price target of $4,087.

JPMorgan Chase & Co. boosted its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 936,401 shares of the company's stock after buying an additional 65,368 shares during the period. JPMorgan Chase & Co. owned approximately 5.58% of AutoZone worth $3,570,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in 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 purchasing an additional 770,005 shares during the period. Barclays PLC grew its position in shares of AutoZone by 82.6% during the fourth quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after buying an additional 77,015 shares in the last quarter. Northern Trust Corp grew its position in shares of AutoZone by 22.0% during the fourth quarter. Northern Trust Corp now owns 204,748 shares of the company's stock worth $655,603,000 after buying an additional 36,916 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in AutoZone during the fourth quarter worth approximately $95,480,000. Finally, Deutsche Bank AG lifted its stake in AutoZone by 14.6% during the fourth quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock worth $655,840,000 after purchasing an additional 26,036 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of NYSE:AZO traded up $4.41 during mid-day trading on Monday, hitting $4,039.57. 96,363 shares of the company traded hands, compared to its average volume of 113,581. The firm has a market cap of $67.78 billion, a P/E ratio of 27.34, a PEG ratio of 2.41 and a beta of 0.38. AutoZone, Inc. has a 52-week low of $2,898.57 and a 52-week high of $4,094.69. The firm's 50 day simple moving average is $3,737.09 and its 200 day simple moving average is $3,646.80.

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

Insider Transactions at AutoZone

In related news, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the transaction, the senior vice president owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction that occurred on 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 transaction, the vice president owned 2,925 shares of the company's stock, valued at $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,862 shares of company stock valued at $126,058,789 over the last 90 days. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AZO. BMO Capital Markets restated an "outperform" rating and set a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their price target on AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Finally, Oppenheimer upgraded AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price target for the company in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $4,087.00.

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.