Nisa Investment Advisors LLC Sells 88 Shares of AutoZone, Inc. (NYSE:AZO)

Nisa Investment Advisors LLC cut its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,645 shares of the company's stock after selling 88 shares during the quarter. Nisa Investment Advisors LLC's holdings in AutoZone were worth $21,523,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of AutoZone during the fourth quarter valued at $29,000. Flagship Wealth Advisors LLC bought a new position in AutoZone during the 4th quarter worth $32,000. Harbour Investments Inc. lifted its holdings in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after buying an additional 3 shares during the period. Cornerstone Planning Group LLC bought a new stake in shares of AutoZone in the 1st quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at about $45,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction dated 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 transaction, the senior vice president directly owned 406 shares of the company's stock, valued at approximately $1,460,434.78. The trade was a 64.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jamere Jackson sold 2,612 shares of the firm'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 of the company's stock, valued at $1,591,877.35. This trade represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,662 shares of company stock worth $131,999,089. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AZO. Morgan Stanley reaffirmed an "overweight" rating and issued a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Evercore ISI set a $3,950.00 price target on shares of AutoZone in a report on Monday, May 19th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. Oppenheimer upgraded shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price objective for the company in a research report on Friday, May 2nd. Finally, Guggenheim boosted their target price on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $4,087.00.

AutoZone Stock Down 0.7%

AZO traded down $26.32 during trading on Friday, hitting $3,702.16. 105,635 shares of the company's stock were exchanged, compared to its average volume of 130,844. AutoZone, Inc. has a fifty-two week low of $2,894.02 and a fifty-two week high of $3,916.81. The stock has a market cap of $62.13 billion, a P/E ratio of 25.06, a PEG ratio of 2.21 and a beta of 0.39. The business's 50 day moving average is $3,704.16 and its two-hundred day moving average is $3,562.97.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The company had revenue of $4.46 billion for 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 revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $36.69 EPS. On average, sell-side analysts forecast 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.