Stephens Inc. AR Has $9.56 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Stephens Inc. AR lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 23.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,506 shares of the company's stock after selling 774 shares during the period. Stephens Inc. AR's holdings in AutoZone were worth $9,555,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in shares of AutoZone by 3.1% in the 1st quarter. Arizona State Retirement System now owns 5,046 shares of the company's stock valued at $19,239,000 after buying an additional 154 shares during the period. Ballentine Partners LLC grew its holdings in shares of AutoZone by 0.6% in the 1st quarter. Ballentine Partners LLC now owns 644 shares of the company's stock valued at $2,454,000 after buying an additional 4 shares during the period. Rational Advisors Inc. acquired a new position in shares of AutoZone in the 1st quarter valued at $1,163,000. Fortem Financial Group LLC grew its holdings in shares of AutoZone by 22.5% in the 1st quarter. Fortem Financial Group LLC now owns 462 shares of the company's stock valued at $1,762,000 after buying an additional 85 shares during the period. Finally, Stegent Equity Advisors Inc. grew its holdings in shares of AutoZone by 6.6% in the 1st quarter. Stegent Equity Advisors Inc. now owns 113 shares of the company's stock valued at $431,000 after buying an additional 7 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Activity

In related news, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction dated 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 owned 8,546 shares in the company, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the completion of the transaction, the chief financial officer owned 427 shares in the company, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,662 shares of company stock valued at $131,999,089 in the last 90 days. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Bank of America raised shares of AutoZone from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Mizuho boosted their price objective on shares of AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $4,100.00 price objective (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Morgan Stanley reaffirmed an "overweight" rating and issued a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Finally, Wall Street Zen raised shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $4,087.00.

AutoZone Stock Performance

Shares of AZO stock opened at $3,702.16 on Monday. The firm's 50-day moving average is $3,704.16 and its 200-day moving average is $3,565.22. The stock has a market cap of $62.12 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.21 and a beta of 0.39. AutoZone, Inc. has a 52-week low of $2,894.02 and a 52-week high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The firm had revenue of $4.46 billion during 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 firm'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 company posted $36.69 earnings per share. Sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone 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.

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