Simplicity Wealth LLC Buys Shares of 170 AutoZone, Inc. (NYSE:AZO)

Simplicity Wealth LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 170 shares of the company's stock, valued at approximately $648,000.

A number of other institutional investors also recently bought and sold shares of AZO. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the fourth quarter worth $29,000. Flagship Wealth Advisors LLC purchased a new stake in AutoZone in the fourth quarter valued at $32,000. Harbour Investments Inc. grew 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 purchasing an additional 3 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in AutoZone during the 4th quarter worth about $45,000. Finally, Itau Unibanco Holding S.A. raised its stake in shares of AutoZone by 750.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company's stock valued at $54,000 after buying an additional 15 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the transaction, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. The trade was a 92.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jamere Jackson sold 2,612 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the sale, the chief financial officer now owns 427 shares of the company's stock, valued at approximately $1,591,877.35. The trade was a 85.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,762 shares of company stock worth $147,189,762. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AZO has been the topic of several analyst reports. Oppenheimer raised AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 target price on the stock in a report on Friday, May 2nd. Bank of America raised shares of 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. Morgan Stanley reaffirmed an "overweight" rating and set a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Wall Street Zen raised shares of AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Raymond James restated a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, AutoZone has a consensus rating of "Buy" and an average target price of $4,072.24.

AutoZone Trading Up 0.5%

AZO stock traded up $17.13 during midday trading on Thursday, reaching $3,675.72. The stock had a trading volume of 156,625 shares, compared to its average volume of 128,827. AutoZone, Inc. has a 52-week low of $2,792.14 and a 52-week high of $3,916.81. The company's fifty day simple moving average is $3,689.09 and its 200 day simple moving average is $3,499.76. The company has a market cap of $61.69 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last released 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 business had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.41 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $36.69 earnings per share. Sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current 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.