Maj Invest Holding A S Lowers Position in AutoZone, Inc. (NYSE:AZO)

Maj Invest Holding A S lowered its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 54.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 25,217 shares of the company's stock after selling 30,754 shares during the quarter. AutoZone makes up about 3.5% of Maj Invest Holding A S's investment portfolio, making the stock its 17th largest holding. Maj Invest Holding A S owned approximately 0.15% of AutoZone worth $96,149,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Sound View Wealth Advisors Group LLC raised its position in shares of AutoZone by 2.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company's stock worth $487,000 after acquiring an additional 3 shares in the last quarter. PDS Planning Inc raised its position in shares of AutoZone by 2.3% in the 4th quarter. PDS Planning Inc now owns 132 shares of the company's stock worth $423,000 after acquiring an additional 3 shares in the last quarter. Harbour Investments Inc. raised its position in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after acquiring an additional 3 shares in the last quarter. Meeder Advisory Services Inc. raised its position in shares of AutoZone by 0.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock worth $1,188,000 after acquiring an additional 3 shares in the last quarter. Finally, Tandem Wealth Advisors LLC raised its position in shares of AutoZone by 3.6% in the 4th quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock worth $279,000 after acquiring an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Mizuho increased their target price on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Evercore ISI set a $3,950.00 target price on AutoZone in a research report on Monday, May 19th. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Truist Financial set a $3,995.00 price objective on AutoZone in a research report on Friday, May 23rd. Finally, Guggenheim raised their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Two research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $4,087.00.

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 27,500 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the transaction, the chairman directly owned 8,546 shares in the company, valued at $31,696,515.78. This trade represents a 76.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Domingo Hurtado sold 4,800 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the transaction, the vice president owned 159 shares in the company, valued at approximately $581,940. This trade represents a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,662 shares of company stock valued at $131,999,089. Corporate insiders own 2.10% of the company's stock.

AutoZone Stock Down 1.5%

Shares of AutoZone stock traded down $55.91 on Tuesday, reaching $3,734.73. The company's stock had a trading volume of 108,343 shares, compared to its average volume of 130,362. The company has a market capitalization of $62.67 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 2.26 and a beta of 0.39. The firm's fifty day simple moving average is $3,705.07 and its two-hundred day simple moving average is $3,552.20. AutoZone, Inc. has a 52 week low of $2,802.79 and a 52 week high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The firm had revenue of $4.46 billion during 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% on a year-over-year basis. During the same quarter last year, the business earned $36.69 earnings per share. As a group, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

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.