NBC Securities Inc. Makes New Investment in AutoZone, Inc. (NYSE:AZO)

NBC Securities Inc. bought a new stake in shares of 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 firm bought 344 shares of the company's stock, valued at approximately $1,311,000.

A number of other institutional investors have also added to or reduced their stakes in AZO. Brighton Jones LLC grew its position in AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after purchasing an additional 14 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in AutoZone during the 4th quarter worth approximately $10,030,000. Perigon Wealth Management LLC grew its position in AutoZone by 11.6% during the 4th quarter. Perigon Wealth Management LLC now owns 106 shares of the company's stock worth $339,000 after purchasing an additional 11 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in AutoZone by 50.7% during the 4th quarter. Mediolanum International Funds Ltd now owns 202 shares of the company's stock valued at $642,000 after acquiring an additional 68 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its stake in AutoZone by 17.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 108 shares of the company's stock valued at $357,000 after acquiring an additional 16 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Activity at AutoZone

In other news, VP Dennis W. Leriche sold 1,575 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the transaction, the vice president now directly owns 417 shares of the company's stock, valued at approximately $1,501,200. This represents a 79.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Philip B. Daniele sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the sale, the chief executive officer now directly owns 163 shares in the company, valued at approximately $619,401.63. The trade was a 92.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,973 shares of company stock valued at $51,346,997 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

AutoZone Stock Performance

Shares of AZO traded down $30.26 during mid-day trading on Wednesday, hitting $3,717.74. 95,052 shares of the company's stock were exchanged, compared to its average volume of 129,471. The company has a market cap of $62.39 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 1.86 and a beta of 0.40. AutoZone, Inc. has a fifty-two week low of $2,750.53 and a fifty-two week high of $3,916.81. The stock's 50-day moving average is $3,698.72 and its 200-day moving average is $3,477.40.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $37.07 by ($1.71). The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $36.69 EPS. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analysts Forecast Growth

AZO has been the subject of several research reports. Roth Capital set a $3,763.00 price objective on shares of AutoZone in a research note on Wednesday, March 5th. DA Davidson boosted their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. UBS Group boosted their target price on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, Roth Mkm boosted their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $4,054.52.

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.