Natixis Advisors LLC Buys 1,311 Shares of AutoZone, Inc. (NYSE:AZO)

Key Points

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Natixis Advisors LLC raised its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,060 shares of the company's stock after purchasing an additional 1,311 shares during the quarter. Natixis Advisors LLC owned 0.10% of AutoZone worth $65,046,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AZO. GAMMA Investing LLC grew its holdings in shares of AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after acquiring an additional 770,005 shares in the last quarter. Barclays PLC boosted its position in AutoZone by 82.6% during the fourth quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after purchasing an additional 77,015 shares during the last quarter. Northern Trust Corp grew its stake in AutoZone by 22.0% in the fourth quarter. Northern Trust Corp now owns 204,748 shares of the company's stock valued at $655,603,000 after purchasing an additional 36,916 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of AutoZone during the 4th quarter worth approximately $95,480,000. Finally, Deutsche Bank AG increased its position in shares of AutoZone by 14.6% during the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock worth $655,840,000 after purchasing an additional 26,036 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AZO shares. Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the company an "overweight" rating in a report on Monday, May 19th. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and increased their price target for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. The Goldman Sachs Group set a $3,811.00 price objective on shares of AutoZone in a research report on Friday, May 23rd. DA Davidson upped their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Oppenheimer upgraded AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price target for the company in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $4,087.00.

Insiders Place Their Bets

In related news, SVP K. Michelle Borninkhof sold 750 shares of the 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 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. This represents a 64.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman William C. Rhodes III sold 27,500 shares of the business's stock in a transaction on 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 $31,696,515.78. This 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 valued at $126,058,789 over the last ninety days. Company insiders own 2.10% of the company's stock.

AutoZone Price Performance

AZO stock traded up $89.99 during midday trading on Friday, reaching $3,858.37. The company had a trading volume of 104,922 shares, compared to its average volume of 111,330. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $3,919.50. The stock has a 50 day moving average price of $3,707.59 and a 200-day moving average price of $3,617.83. The company has a market capitalization of $64.74 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 2.30 and a beta of 0.38.

AutoZone (NYSE:AZO - Get Free Report) last issued its 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). The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. AutoZone's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $36.69 earnings per share. As a group, research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

About AutoZone

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.