Sawgrass Asset Management LLC Sells 181 Shares of AutoZone, Inc. (NYSE:AZO)

Sawgrass Asset Management LLC lessened its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,897 shares of the company's stock after selling 181 shares during the quarter. AutoZone makes up approximately 1.8% of Sawgrass Asset Management LLC's holdings, making the stock its 11th biggest holding. Sawgrass Asset Management LLC's holdings in AutoZone were worth $14,858,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Rappaport Reiches Capital Management LLC boosted its stake in AutoZone by 4.8% in the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after acquiring an additional 3 shares during the last quarter. North Growth Management Ltd. acquired a new position in shares of AutoZone in the 1st quarter valued at $3,660,000. Blue Trust Inc. boosted its position in shares of AutoZone by 3.5% in the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after purchasing an additional 3 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its position in shares of AutoZone by 1.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 490 shares of the company's stock worth $1,868,000 after purchasing an additional 5 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of AutoZone by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 2,965 shares of the company's stock worth $11,304,000 after purchasing an additional 35 shares during the period. Institutional investors own 92.74% of the company's stock.

Insider Transactions at AutoZone

In related news, VP Domingo Hurtado sold 4,800 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was 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 owns 159 shares in the company, valued at approximately $581,940. This represents a 96.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 8,546 shares of the company's stock, valued at $31,696,515.78. This trade represents a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,912 shares of company stock worth $136,901,262 in the last three months. Insiders own 2.10% of the company's stock.

AutoZone Stock Up 1.1%

NYSE:AZO opened at $3,644.12 on Monday. AutoZone, Inc. has a twelve month low of $2,801.49 and a twelve month high of $3,916.81. The company has a market cap of $61.15 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 2.19 and a beta of 0.40. The business has a 50 day moving average price of $3,698.71 and a two-hundred day moving average price of $3,526.24.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the previous year, the company posted $36.69 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AZO shares. Truist Financial set a $3,995.00 target price on AutoZone in a research note on Friday, May 23rd. The Goldman Sachs Group set a $3,811.00 price target on shares of AutoZone in a research report on Friday, May 23rd. DA Davidson boosted their price objective on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Evercore ISI set a $3,950.00 target price on shares of AutoZone in a research note on Monday, May 19th. Finally, Oppenheimer raised shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price target on the stock in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target 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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