Rhumbline Advisers Purchases 592 Shares of AutoZone, Inc. (NYSE:AZO)

Rhumbline Advisers grew its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,876 shares of the company's stock after purchasing an additional 592 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of AutoZone worth $140,600,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of AutoZone during the 4th quarter worth $29,000. Flagship Wealth Advisors LLC acquired a new position in AutoZone during the 4th quarter worth $32,000. Harbour Investments Inc. lifted its position 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 acquiring an additional 3 shares during the last quarter. Minot DeBlois Advisors LLC bought a new stake in AutoZone during the fourth quarter valued at about $45,000. Finally, Itau Unibanco Holding S.A. grew its position in shares of AutoZone by 750.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company's stock valued at $54,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Insiders Place Their Bets

In related news, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the sale, the chief executive officer now owns 163 shares of the company's stock, valued at $619,401.63. The trade was a 92.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now owns 50 shares in the company, valued at $177,500. This trade represents a 76.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,133 shares of company stock worth $51,914,997 over the last quarter. Company insiders own 2.10% of the company's stock.

AutoZone Stock Performance

Shares of AZO stock traded up $0.71 during mid-day trading on Tuesday, reaching $3,750.52. The company's stock had a trading volume of 95,962 shares, compared to its average volume of 129,718. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81. The company has a market cap of $62.94 billion, a P/E ratio of 25.06, a PEG ratio of 1.86 and a beta of 0.44. The firm's 50-day moving average is $3,700.21 and its two-hundred day moving average is $3,475.49.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AZO. Morgan Stanley reiterated 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. Truist Financial set a $3,995.00 target price on AutoZone in a report on Friday, May 23rd. Wells Fargo & Company set a $4,200.00 price target on AutoZone and gave the stock an "overweight" rating in a report on Monday, May 19th. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a research report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $4,054.52.

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.