LGT Fund Management Co Ltd. Has $2.90 Million Position in AutoZone, Inc. (NYSE:AZO)

Key Points

• LGT Fund Management Co Ltd. reduced its holdings in AutoZone by 13.9% during Q1, now owning 761 shares valued at approximately $2.90 million.
• Insider transactions included Chairman William C. Rhodes III selling 27,500 shares for about $102 million, resulting in a 76.29% decrease in his ownership stake.
• Analysts have raised price targets for AutoZone, with DA Davidson increasing their target from $4,192 to $4,850, indicating strong positive sentiment towards the stock.

LGT Fund Management Co Ltd. lowered its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 13.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 761 shares of the company's stock after selling 123 shares during the period. LGT Fund Management Co Ltd.'s holdings in AutoZone were worth $2,902,000 as of its most recent SEC filing.

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

Insider Transactions at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chairman owned 8,546 shares of the company's stock, valued at $31,696,515.78. This represents a 76.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction that occurred 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 sale, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,862 shares of company stock worth $126,058,789. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Truist Financial set a $3,995.00 price target on AutoZone in a report on Friday, May 23rd. DA Davidson lifted their price target on AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Mizuho lifted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a report on Friday, May 23rd. Finally, UBS Group lifted their price target on AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $4,087.00.

AutoZone Stock Performance

Shares of AZO opened at $4,039.57 on Tuesday. The stock has a 50 day simple moving average of $3,742.89 and a 200 day simple moving average of $3,651.77. AutoZone, Inc. has a 52-week low of $2,898.57 and a 52-week high of $4,094.69. The firm has a market capitalization of $67.78 billion, a PE ratio of 27.34, a P/E/G ratio of 2.41 and a beta of 0.38.

AutoZone (NYSE:AZO - Get Free Report) last issued 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 net margin of 13.56% and a negative return on equity of 56.07%. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the prior year, the firm posted $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 predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

About AutoZone

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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