Norinchukin Bank The Purchases 118 Shares of AutoZone, Inc. $AZO

Key Points

• Norinchukin Bank increased its stake in AutoZone, Inc. by 15.2%, acquiring an additional 118 shares, bringing its total holdings to 896 shares valued at approximately $3.4 million.
• Insider selling has occurred with notable sales by SVP K. Michelle Borninkhof and Chairman William C. Rhodes III, leading to a 64.88% and 76.29% decrease in their respective shares owned after transactions valued at nearly $2.7 million and $102 million.
• AutoZone's stock is currently trading at about $4,128.61, with multiple analysts giving a consensus rating of "Buy" and price targets ranging up to $4,800.

Norinchukin Bank The raised its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 896 shares of the company's stock after acquiring an additional 118 shares during the period. Norinchukin Bank The's holdings in AutoZone were worth $3,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Forum Financial Management LP grew its position in AutoZone by 2.2% in the fourth quarter. Forum Financial Management LP now owns 138 shares of the company's stock valued at $443,000 after acquiring an additional 3 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of AutoZone by 2.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock worth $538,000 after buying an additional 3 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of AutoZone by 2.9% during the first quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock worth $400,000 after buying an additional 3 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after buying an additional 3 shares in the last quarter. Finally, Rappaport Reiches Capital Management LLC increased its holdings in shares of AutoZone by 4.8% during the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock worth $252,000 after buying an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In other 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 transaction of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares of the company's stock, valued at $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the completion of the sale, the chairman directly owned 8,546 shares of the company's stock, valued at $31,696,515.78. The trade was a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,862 shares of company stock valued at $126,058,789. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AZO. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Roth Capital set a $4,135.00 price objective on shares of AutoZone and gave the company a "buy" rating in a report on Monday, June 2nd. Guggenheim raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Finally, Bank of America upgraded AutoZone from a "neutral" rating to a "buy" rating and upped their price target for the company from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $4,101.29.

AutoZone Stock Down 0.7%

Shares of NYSE AZO opened at $4,128.6070 on Friday. The firm has a market cap of $69.28 billion, a PE ratio of 27.94, a P/E/G ratio of 2.48 and a beta of 0.38. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,187.39. The company's fifty day simple moving average is $3,800.17 and its 200 day simple moving average is $3,686.55.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates 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%. The company's revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $36.69 EPS. On average, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share 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.

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