Leavell Investment Management Inc. Invests $553,000 in AutoZone, Inc. (NYSE:AZO)

Leavell Investment Management Inc. acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 145 shares of the company's stock, valued at approximately $553,000.

Other large investors have also recently added to or reduced their stakes in the company. Quotient Wealth Partners LLC lifted its position in shares of AutoZone by 4.9% in the 1st quarter. Quotient Wealth Partners LLC now owns 85 shares of the company's stock worth $323,000 after buying an additional 4 shares during the last quarter. Bridges Investment Management Inc. lifted its position in shares of AutoZone by 5.5% in the 1st quarter. Bridges Investment Management Inc. now owns 8,232 shares of the company's stock worth $31,387,000 after buying an additional 427 shares during the last quarter. Moloney Securities Asset Management LLC lifted its position in shares of AutoZone by 2.5% in the 1st quarter. Moloney Securities Asset Management LLC now owns 283 shares of the company's stock worth $1,079,000 after buying an additional 7 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of AutoZone by 15.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 329 shares of the company's stock worth $1,255,000 after buying an additional 44 shares during the last quarter. Finally, Cornerstone Planning Group LLC bought a new position in shares of AutoZone in the 1st quarter worth about $44,000. 92.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. BMO Capital Markets restated an "outperform" rating and issued a $4,100.00 price target (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Truist Financial set a $3,995.00 price target on shares of AutoZone in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Finally, UBS Group lifted their price objective on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $4,087.00.

AutoZone Stock Performance

Shares of AZO stock traded down $26.32 during midday trading on Friday, reaching $3,702.16. 105,635 shares of the company were exchanged, compared to its average volume of 130,764. The company's 50 day moving average price is $3,704.16 and its two-hundred day moving average price is $3,561.04. The company has a market cap of $62.12 billion, a P/E ratio of 25.06, a PEG ratio of 2.22 and a beta of 0.39. AutoZone, Inc. has a 12 month low of $2,894.02 and a 12 month high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last announced 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). The business had revenue of $4.46 billion during the quarter, compared to analyst estimates 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 firm earned $36.69 EPS. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other news, CFO Jamere Jackson sold 2,612 shares of AutoZone stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the transaction, the chief financial officer owned 427 shares of the company's stock, valued at $1,591,877.35. The trade was a 85.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 directly owned 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. Over the last 90 days, insiders sold 35,662 shares of company stock worth $131,999,089. 2.10% of the stock is currently owned by company insiders.

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.