Northwestern Mutual Wealth Management Co. Purchases 314 Shares of AutoZone, Inc. $AZO

Key Points

• Northwestern Mutual Wealth Management Co. has increased its stake in AutoZone, Inc. by 2.0%, now owning 16,107 shares valued at approximately $61.4 million as per its latest SEC filing.
• Several hedge funds significantly boosted their positions in AutoZone, with the majority of the company's stock (92.74%) now held by institutional investors.
• AutoZone reported a decrease in EPS of $35.36 for the previous quarter, missing the analysts' consensus estimate, while also experiencing a 5.4% year-over-year increase in revenue.

Northwestern Mutual Wealth Management Co. boosted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,107 shares of the company's stock after buying an additional 314 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.10% of AutoZone worth $61,412,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AZO. Vanguard Group Inc. lifted its position in shares of AutoZone by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company's stock worth $6,709,967,000 after purchasing an additional 13,643 shares during the period. JPMorgan Chase & Co. raised its stake in AutoZone by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock worth $3,570,296,000 after buying an additional 65,368 shares during the last quarter. GAMMA Investing LLC raised its stake in AutoZone by 435,031.1% during the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after buying an additional 770,005 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AutoZone by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company's stock valued at $1,331,870,000 after buying an additional 24,701 shares during the period. Finally, Deutsche Bank AG grew its holdings in 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 acquiring an additional 26,036 shares during the period. Institutional investors own 92.74% of the company's stock.

Insider Transactions at AutoZone

In related news, CFO Jamere Jackson sold 2,612 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the transaction, the chief financial officer directly owned 427 shares in the company, valued at $1,591,877.35. This trade represents a 85.95% 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 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 completion of the transaction, the chairman owned 8,546 shares in the company, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,862 shares of company stock valued at $126,058,789 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

AutoZone Trading Up 0.6%

Shares of AZO traded up $23.50 during trading hours on Wednesday, reaching $4,203.67. The stock had a trading volume of 113,457 shares, compared to its average volume of 130,384. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,216.02. The firm has a 50-day simple moving average of $3,831.83 and a 200 day simple moving average of $3,702.38. The company has a market capitalization of $70.54 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 2.48 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%.The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the prior year, the business earned $36.69 earnings per share. AutoZone's revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AZO shares. Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. Guggenheim lifted their target price on AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Truist Financial set a $3,995.00 price target on AutoZone in a research note on Friday, May 23rd. Roth Capital set a $4,135.00 price objective on shares of AutoZone and gave the stock a "buy" rating in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. 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 data from MarketBeat.com, AutoZone presently has a consensus rating of "Buy" and an average price target of $4,101.29.

AutoZone Company 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.