AutoZone, Inc. (NYSE:AZO) Shares Sold by Maj Invest Holding A S

Maj Invest Holding A S lowered its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 54.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,217 shares of the company's stock after selling 30,754 shares during the period. AutoZone accounts for approximately 3.5% of Maj Invest Holding A S's portfolio, making the stock its 17th biggest holding. Maj Invest Holding A S owned approximately 0.15% of AutoZone worth $96,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. boosted its holdings in AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after acquiring an additional 3 shares during the period. Colonial Trust Co SC grew its position in shares of AutoZone by 24.5% during the fourth quarter. Colonial Trust Co SC now owns 61 shares of the company's stock worth $197,000 after buying an additional 12 shares in the last quarter. Comerica Bank grew its position in shares of AutoZone by 5.4% during the fourth quarter. Comerica Bank now owns 4,262 shares of the company's stock worth $13,647,000 after buying an additional 217 shares in the last quarter. 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. Finally, Envestnet Asset Management Inc. lifted its stake in AutoZone by 13.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 66,016 shares of the company's stock valued at $211,383,000 after buying an additional 7,586 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AutoZone

In other news, CFO Jamere Jackson sold 2,612 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the sale, the chief financial officer owned 427 shares in the company, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,662 shares of company stock valued at $131,999,089. 2.10% of the stock is owned by company insiders.

AutoZone Stock Performance

NYSE AZO traded up $5.25 during trading hours on Wednesday, hitting $3,747.33. 65,082 shares of the company's stock were exchanged, compared to its average volume of 130,175. The business's 50 day moving average is $3,705.68 and its 200-day moving average is $3,553.46. AutoZone, Inc. has a 12-month low of $2,802.79 and a 12-month high of $3,916.81. The firm has a market capitalization of $62.88 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 2.26 and a beta of 0.39.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). The business 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 business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $36.69 earnings per share. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Ratings Changes

AZO has been the topic of a number of recent research reports. Evercore ISI set a $3,950.00 target price on AutoZone in a report on Monday, May 19th. Mizuho upped their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. UBS Group upped their price objective on AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $4,100.00 price objective (up previously from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Finally, Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the stock an "overweight" rating in a report on Monday, May 19th. Two investment 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. According to data from MarketBeat.com, the stock 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.