AutoZone, Inc. (NYSE:AZO) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its holdings in AutoZone, Inc. by 16.1% in the first quarter, owning 1,344 shares valued at approximately $5.12 million after selling 258 shares.
• AutoZone reported $35.36 earnings per share for the last quarter, falling short of the consensus estimate of $37.07, despite a 5.4% year-over-year revenue increase to $4.46 billion.
• Insiders at AutoZone have sold a total of 33,862 shares valued at about $126.06 million over the last ninety days, leading to significant decreases in their ownership stakes.

Mizuho Securities USA LLC reduced its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,344 shares of the company's stock after selling 258 shares during the period. Mizuho Securities USA LLC's holdings in AutoZone were worth $5,124,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fiduciary Family Office LLC acquired a new stake in shares of AutoZone in the first quarter worth approximately $572,000. Benjamin Edwards Inc. boosted its stake in shares of AutoZone by 11.3% in the first quarter. Benjamin Edwards Inc. now owns 1,467 shares of the company's stock worth $5,593,000 after acquiring an additional 149 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AutoZone by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock worth $3,570,296,000 after acquiring an additional 65,368 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of AutoZone by 1.4% in the first quarter. Frank Rimerman Advisors LLC now owns 372 shares of the company's stock worth $1,418,000 after acquiring an additional 5 shares during the last quarter. Finally, Donoghue Forlines LLC acquired a new stake in shares of AutoZone in the first quarter worth approximately $2,421,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AZO. Roth Capital set a $4,135.00 price target on AutoZone and gave the stock a "buy" rating in a research note on Monday, June 2nd. Guggenheim lifted their price target 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. Morgan Stanley reaffirmed an "overweight" rating and issued a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. DA Davidson boosted their price objective on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, Evercore ISI set a $3,950.00 price objective on AutoZone in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $4,087.00.

Insider Buying and Selling

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the sale, the chief financial officer owned 427 shares in the company, valued at $1,591,877.35. This represents a 85.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 27,500 shares of the company'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 owned 8,546 shares in the company, valued at approximately $31,696,515.78. This trade represents a 76.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,862 shares of company stock worth $126,058,789 in the last quarter. Company insiders own 2.10% of the company's stock.

AutoZone Price Performance

Shares of AZO stock traded down $36.20 on Tuesday, hitting $4,000.59. The stock had a trading volume of 95,646 shares, compared to its average volume of 112,056. The firm has a market capitalization of $67.13 billion, a P/E ratio of 27.08, a P/E/G ratio of 2.41 and a beta of 0.38. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,094.69. The company's 50 day moving average price is $3,747.90 and its 200-day moving average price is $3,654.19.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share 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 company had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.41 billion. During the same quarter last year, the company earned $36.69 EPS. AutoZone's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

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.