89 Shares in AutoZone, Inc. $AZO Bought by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC has acquired 89 shares of AutoZone, Inc. (NYSE: AZO) in the first quarter, valued at approximately $339,000.
• Insider selling has occurred with VP Richard Craig Smith selling 3,000 shares and Chairman William C. Rhodes III selling 27,500 shares, significantly reducing their ownership in the company.
• Analysts have recently raised the target price for AutoZone stock, with UBS Group increasing their target from $4,025 to $4,260 and Citigroup raising theirs from $3,900 to $4,900.

MBB Public Markets I LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 89 shares of the company's stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AZO. AlphaCore Capital LLC bought a new position in AutoZone in the first quarter valued at approximately $27,000. Saudi Central Bank bought a new position in AutoZone in the first quarter valued at approximately $27,000. Financial Network Wealth Advisors LLC boosted its stake in AutoZone by 66.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock valued at $38,000 after acquiring an additional 4 shares during the last quarter. Cornerstone Planning Group LLC bought a new position in AutoZone in the first quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in AutoZone in the fourth quarter valued at approximately $45,000. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

AZO stock traded down $27.17 during midday trading on Friday, hitting $4,327.37. The company's stock had a trading volume of 100,875 shares, compared to its average volume of 99,795. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,388.11. The company's fifty day moving average price is $3,989.84 and its 200 day moving average price is $3,773.46. The stock has a market capitalization of $72.62 billion, a P/E ratio of 29.29, a PEG ratio of 2.30 and a beta of 0.41.

Insider Activity

In other news, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were 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 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. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of AutoZone from $4,060.00 to $4,250.00 and gave the stock an "outperform" rating in a research report on Monday, August 18th. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Barclays lifted their price target on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, UBS Group boosted their price objective on shares of AutoZone from $4,260.00 to $4,925.00 and gave the company a "buy" rating in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, AutoZone presently has an average rating of "Buy" and a consensus target price of $4,229.38.

AutoZone 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.