AutoZone, Inc. (NYSE:AZO) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its stake in AutoZone by 35.6%, bringing its total holdings to 130 shares valued at $490,000.
• During the first quarter, GAMMA Investing LLC significantly increased its position by 435,031.1%, now owning 770,182 shares worth approximately $2.94 billion.
• AutoZone's shares are currently trading at $3,874.70, a 2.1% increase on the day, while the company reported a quarterly EPS of $35.36, missing estimates.

Mediolanum International Funds Ltd decreased its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 35.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 130 shares of the company's stock after selling 72 shares during the period. Mediolanum International Funds Ltd's holdings in AutoZone were worth $490,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AZO. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $29,000. Cornerstone Planning Group LLC purchased a new stake in AutoZone in the 1st quarter valued at $44,000. Minot DeBlois Advisors LLC acquired a new stake in shares of AutoZone in the 4th quarter worth $45,000. Tradewinds Capital Management LLC increased its stake in shares of AutoZone by 30.0% in the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after acquiring an additional 3 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of AutoZone by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 14 shares of the company's stock worth $53,000 after acquiring an additional 7 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of AZO stock traded up $66.09 during trading hours on Friday, reaching $3,834.47. 51,229 shares of the stock were exchanged, compared to its average volume of 132,976. The business's fifty day moving average is $3,707.01 and its two-hundred day moving average is $3,610.63. The firm has a market capitalization of $64.35 billion, a P/E ratio of 25.99, a P/E/G ratio of 2.29 and a beta of 0.39. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $3,919.50.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. BMO Capital Markets reiterated an "outperform" rating and issued a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. The Goldman Sachs Group set a $3,811.00 price target on shares of AutoZone in a research report on Friday, May 23rd. Finally, Bank of America upgraded AutoZone from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. 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 has a consensus rating of "Buy" and an average price target of $4,087.00.

Insider Activity

In other news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction dated 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 represents a 64.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,862 shares of company stock worth $126,058,789. 2.10% of the stock is currently owned by company insiders.

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.