Oak Thistle LLC Sells 283 Shares of AutoZone, Inc. (NYSE:AZO)

Key Points

• Oak Thistle LLC has reduced its stake in AutoZone, Inc. by 74.7%, now holding only 96 shares worth approximately $366,000.
• Insider transactions have been significant, with CFO Jamere Jackson selling 2,612 shares for around $9.7 million, marking an 85.95% reduction in his position.
• Analysts have recently increased their price targets for AutoZone, with DA Davidson raising it from $4,192 to $4,850 and maintaining a 'buy' rating.

Oak Thistle LLC trimmed its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 74.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96 shares of the company's stock after selling 283 shares during the quarter. Oak Thistle LLC's holdings in AutoZone were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. KLP Kapitalforvaltning AS lifted its holdings in AutoZone by 1.7% during the 1st quarter. KLP Kapitalforvaltning AS now owns 5,949 shares of the company's stock worth $22,682,000 after buying an additional 100 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in AutoZone in the first quarter valued at approximately $743,000. Obermeyer Wealth Partners acquired a new position in shares of AutoZone in the 1st quarter valued at $225,000. Crestwood Advisors Group LLC lifted its stake in shares of AutoZone by 19.2% in the 1st quarter. Crestwood Advisors Group LLC now owns 180 shares of the company's stock valued at $687,000 after purchasing an additional 29 shares during the period. Finally, Edgemoor Investment Advisors Inc. acquired a new position in shares of AutoZone in the 1st quarter valued at $229,000. Institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

AZO has been the topic of several analyst reports. Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. Evercore ISI set a $3,950.00 target price on shares of AutoZone in a report on Monday, May 19th. Truist Financial set a $3,995.00 target price on shares of AutoZone in a report on Friday, May 23rd. Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Finally, UBS Group raised their price objective on AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $4,087.00.

Insider Activity at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of AutoZone 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 sale, the senior vice president owned 406 shares of the company's stock, valued at approximately $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the sale, the chief financial officer owned 427 shares in the company, valued at $1,591,877.35. This represents a 85.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,862 shares of company stock worth $126,058,789 over the last quarter. Company insiders own 2.10% of the company's stock.

AutoZone Trading Up 1.8%

AutoZone stock traded up $69.83 during trading hours on Tuesday, reaching $3,866.39. 51,636 shares of the stock were exchanged, compared to its average volume of 132,512. The company has a market cap of $64.89 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 2.28 and a beta of 0.39. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $3,916.81. The stock has a 50 day moving average of $3,709.64 and a two-hundred day moving average of $3,603.53.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results 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 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%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $36.69 earnings per share. On average, analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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.