AutoZone, Inc. (NYSE:AZO) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 7.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,051 shares of the company's stock after purchasing an additional 134 shares during the period. Tectonic Advisors LLC's holdings in AutoZone were worth $7,820,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AZO. Headlands Technologies LLC purchased a new position in AutoZone in the 4th quarter valued at approximately $29,000. Flagship Wealth Advisors LLC purchased a new position in AutoZone in the 4th quarter valued at approximately $32,000. Harbour Investments Inc. increased its stake in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after purchasing an additional 3 shares in the last quarter. Cornerstone Planning Group LLC purchased a new position in AutoZone in the 1st quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in AutoZone in the 4th quarter valued at approximately $45,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AZO has been the subject of several recent research reports. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Evercore ISI set a $3,950.00 target price on AutoZone in a report on Monday, May 19th. Oppenheimer upgraded 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. Truist Financial set a $3,995.00 price objective on AutoZone in a research note on Friday, May 23rd. Finally, Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. Two 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 stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of "Buy" and an average price target of $4,087.00.

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the completion of the transaction, the chairman directly owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the transaction, the senior vice president directly owned 406 shares of the company's stock, valued at $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,662 shares of company stock valued at $131,999,089 in the last three months. Corporate insiders own 2.10% of the company's stock.

AutoZone Trading Down 0.9%

AutoZone stock traded down $33.75 during midday trading on Thursday, hitting $3,648.87. The stock had a trading volume of 96,289 shares, compared to its average volume of 130,472. The stock has a market cap of $61.23 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.21 and a beta of 0.39. AutoZone, Inc. has a 12 month low of $2,894.02 and a 12 month high of $3,916.81. The business has a fifty day moving average price of $3,701.58 and a 200 day moving average price of $3,570.51.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate 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 quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $36.69 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.