Maverick Capital Ltd. purchased a new position in AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,133 shares of the company's stock, valued at approximately $4,320,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in AZO. Brighton Jones LLC lifted its position in shares of AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after buying an additional 14 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of AutoZone in the fourth quarter worth about $6,373,000. Aptus Capital Advisors LLC lifted its position in shares of AutoZone by 2.3% in the fourth quarter. Aptus Capital Advisors LLC now owns 266 shares of the company's stock worth $852,000 after buying an additional 6 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of AutoZone by 14.2% during the 4th quarter. Benjamin Edwards Inc. now owns 1,318 shares of the company's stock worth $4,220,000 after purchasing an additional 164 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of AutoZone by 18.7% during the 4th quarter. Bank of America Corp DE now owns 122,538 shares of the company's stock worth $392,367,000 after purchasing an additional 19,265 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.
Analysts Set New Price Targets
AZO has been the topic of several research reports. DA Davidson boosted their price target on AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. BMO Capital Markets restated an "outperform" rating and set a $4,100.00 price target (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Morgan Stanley restated an "overweight" rating and set a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Citigroup upped their price objective on AutoZone from $3,900.00 to $4,900.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $4,148.90.
Check Out Our Latest Analysis on AutoZone
AutoZone Price Performance
AZO stock traded down $16.65 during trading hours on Friday, reaching $4,216.31. 92,444 shares of the stock were exchanged, compared to its average volume of 95,411. The firm's 50-day moving average is $3,929.54 and its 200-day moving average is $3,742.59. The company has a market cap of $70.75 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 2.23 and a beta of 0.41. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,248.14.
Insiders Place Their Bets
In other news, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the firm's 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 transaction, the senior vice president owned 406 shares of the company's stock, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,250 shares of company stock worth $116,321,123. Corporate insiders own 2.10% of the company's stock.
About AutoZone
(
Free Report)
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.
See Also
Before you consider AutoZone, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AutoZone wasn't on the list.
While AutoZone currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
