Maxi Investments CY Ltd Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Key Points

• Maxi Investments CY Ltd has acquired 265 shares of AutoZone, Inc., valuing the purchase at approximately $1,010,000.
• Institutional investors now own 92.74% of AutoZone’s stock, indicating strong interest from large investment firms.
• AutoZone's stock has received recent upgrades from multiple brokerages, with analysts setting target prices as high as $4,600.00.

Maxi Investments CY Ltd purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 265 shares of the company's stock, valued at approximately $1,010,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Tandem Wealth Advisors LLC lifted its holdings in shares of AutoZone by 3.6% during the 4th quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock valued at $279,000 after purchasing an additional 3 shares in the last quarter. United Capital Financial Advisors LLC grew its stake in AutoZone by 0.3% in the fourth 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 raised its position in AutoZone by 2.2% during the fourth quarter. Forum Financial Management LP now owns 138 shares of the company's stock worth $443,000 after acquiring an additional 3 shares in the last quarter. Focus Financial Network Inc. raised its holdings 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 during the period. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of AutoZone by 2.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after buying an additional 3 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Trading Up 1.7%

NYSE AZO traded up $69.97 during mid-day trading on Wednesday, hitting $4,081.22. The company's stock had a trading volume of 109,255 shares, compared to its average volume of 118,641. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,094.69. The firm has a market capitalization of $68.48 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 2.39 and a beta of 0.38. The company's 50 day simple moving average is $3,716.88 and its 200 day simple moving average is $3,628.70.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.41 billion. During the same quarter in the previous year, the firm earned $36.69 EPS. AutoZone's quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 27,500 shares of the business's stock in a transaction dated 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 sale, the chairman directly owned 8,546 shares in the company, valued at approximately $31,696,515.78. The trade was a 76.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the transaction, the senior vice president directly owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,862 shares of company stock valued at $126,058,789. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on AZO shares. Evercore ISI set a $3,950.00 target price on shares of AutoZone in a report on Monday, May 19th. 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. Guggenheim upped their target price on AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group set a $3,811.00 price target on shares of AutoZone in a report on Friday, May 23rd. Finally, Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the company an "overweight" rating in a research report on Monday, May 19th. 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, AutoZone presently has an average rating of "Buy" and an average target price of $4,087.00.

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.