Robeco Institutional Asset Management B.V. Purchases 21,635 Shares of AutoZone, Inc. (NYSE:AZO)

Robeco Institutional Asset Management B.V. grew its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 27.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,443 shares of the company's stock after buying an additional 21,635 shares during the quarter. AutoZone accounts for 0.8% of Robeco Institutional Asset Management B.V.'s investment portfolio, making the stock its 21st biggest position. Robeco Institutional Asset Management B.V. owned 0.60% of AutoZone worth $386,780,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after buying an additional 419,375 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of AutoZone by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company's stock valued at $1,039,421,000 after buying an additional 17,518 shares in the last quarter. Norges Bank purchased a new stake in shares of AutoZone during the 4th quarter valued at $834,556,000. Finally, Deutsche Bank AG raised its position in shares of AutoZone by 14.6% during the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock valued at $655,840,000 after buying an additional 26,036 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Activity

In other news, Chairman William C. Rhodes III sold 27,500 shares of AutoZone stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman now owns 8,546 shares of the company's stock, valued at approximately $31,696,515.78. The trade was a 76.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of AutoZone stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the sale, the vice president now directly owns 159 shares in the company, valued at $581,940. The trade was a 96.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,662 shares of company stock valued at $131,999,089. Corporate insiders own 2.10% of the company's stock.

AutoZone Trading Down 2.6%

AZO stock opened at $3,485.54 on Thursday. The firm's 50-day moving average price is $3,696.27 and its two-hundred day moving average price is $3,529.06. AutoZone, Inc. has a 12-month low of $2,801.49 and a 12-month high of $3,916.81. The stock has a market capitalization of $58.49 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 2.14 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last announced 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). The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $36.69 EPS. Equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AZO shares. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and raised their price objective for the company from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Morgan Stanley reiterated an "overweight" rating and issued a $4,000.00 target price (up previously from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Argus cut shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, Guggenheim lifted their target price on shares of AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $4,072.24.

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.

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