Madison Asset Management LLC Takes Position in AutoZone, Inc. (NYSE:AZO)

Madison Asset Management LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 72 shares of the company's stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC boosted its holdings in shares of AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after buying an additional 14 shares during the period. LPL Financial LLC boosted its holdings in shares of AutoZone by 18.9% in the fourth quarter. LPL Financial LLC now owns 11,869 shares of the company's stock valued at $38,004,000 after buying an additional 1,886 shares during the period. Modern Wealth Management LLC boosted its holdings in shares of AutoZone by 14.7% in the fourth quarter. Modern Wealth Management LLC now owns 117 shares of the company's stock valued at $401,000 after buying an additional 15 shares during the period. TIAA Trust National Association boosted its holdings in shares of AutoZone by 7.2% in the fourth quarter. TIAA Trust National Association now owns 267 shares of the company's stock valued at $855,000 after buying an additional 18 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of AutoZone by 21.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,939 shares of the company's stock valued at $499,924,000 after buying an additional 26,599 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

Shares of NYSE:AZO traded down $22.30 during mid-day trading on Friday, reaching $3,819.20. 80,657 shares of the company traded hands, compared to its average volume of 124,753. The company's 50 day moving average price is $3,711.34 and its 200-day moving average price is $3,595.67. The firm has a market cap of $64.09 billion, a PE ratio of 25.85, a PEG ratio of 2.29 and a beta of 0.39. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $3,916.81.

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). The firm 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 firm's revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $36.69 earnings per share. On average, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 427 shares in the company, valued at $1,591,877.35. This trade represents a 85.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,862 shares of company stock worth $126,058,789. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AZO shares. Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. DA Davidson increased their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Evercore ISI set a $3,950.00 target price on shares of AutoZone in a report on Monday, May 19th. Finally, Mizuho increased their target price on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Two 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 stock. According to data from MarketBeat, AutoZone presently has a consensus rating of "Buy" and an average price target of $4,087.00.

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.