AutoZone, Inc. $AZO Shares Bought by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. increased its stake in AutoZone, Inc. by 50.3%, acquiring an additional 452 shares and bringing its total to 1,351 shares valued at approximately $5.15 million.
• AutoZone reported an earnings per share (EPS) of $35.36 for the last quarter, missing analysts' expectations of $37.07, despite a 5.4% increase in revenue year-over-year.
• Multiple analysts have upgraded AutoZone's stock rating, with price targets increasing significantly, including a boost from Bank of America to $4,800.

Landscape Capital Management L.L.C. boosted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 50.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,351 shares of the company's stock after purchasing an additional 452 shares during the period. Landscape Capital Management L.L.C.'s holdings in AutoZone were worth $5,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AZO. Forum Financial Management LP lifted its holdings 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 buying an additional 3 shares during the last quarter. Focus Financial Network Inc. lifted its holdings 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 buying an additional 3 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings 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 buying an additional 3 shares during the last quarter. Rappaport Reiches Capital Management LLC lifted its holdings in AutoZone by 4.8% during the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock worth $252,000 after buying an additional 3 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings 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 buying an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

Shares of NYSE AZO traded up $8.51 during mid-day trading on Friday, hitting $4,205.60. The company had a trading volume of 89,713 shares, compared to its average volume of 105,104. The firm's 50 day simple moving average is $3,867.16 and its two-hundred day simple moving average is $3,718.34. The stock has a market cap of $70.57 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.51 and a beta of 0.38. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,229.68.

Analyst Ratings Changes

A number of research analysts have commented on the company. Truist Financial set a $3,995.00 target price on AutoZone in a report on Friday, May 23rd. DA Davidson raised their price target on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Evercore ISI raised their price target on AutoZone from $4,060.00 to $4,250.00 and gave the stock an "outperform" rating in a report on Monday, August 18th. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Finally, Roth Capital set a $4,135.00 price target on AutoZone and gave the stock a "buy" rating in a report on Monday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $4,101.29.

Insider Buying and Selling at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of AutoZone stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman owned 8,546 shares of the company's stock, valued at $31,696,515.78. The trade was a 76.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction on 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 sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,250 shares of company stock valued at $116,321,123 in the last quarter. Corporate insiders own 2.10% of the company's stock.

AutoZone 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.