Victory Capital Management Inc. Has $27.17 Million Holdings in AutoZone, Inc. (NYSE:AZO)

Victory Capital Management Inc. cut its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 1.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,127 shares of the company's stock after selling 121 shares during the period. Victory Capital Management Inc.'s holdings in AutoZone were worth $27,174,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of AutoZone during the 4th quarter worth approximately $29,000. Harbour Investments Inc. grew its position 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 during the period. Cornerstone Planning Group LLC acquired a new stake in AutoZone in the 1st quarter valued at $44,000. Minot DeBlois Advisors LLC acquired a new stake in AutoZone in the 4th quarter valued at $45,000. Finally, Tradewinds Capital Management LLC grew its position in AutoZone by 30.0% in the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock valued at $50,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Up 0.6%

Shares of NYSE AZO opened at $3,735.05 on Tuesday. The business has a fifty day simple moving average of $3,702.15 and a two-hundred day simple moving average of $3,582.14. The firm has a market cap of $62.67 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 2.22 and a beta of 0.39. AutoZone, Inc. has a twelve month low of $2,894.02 and a twelve month high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly 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). The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $36.69 earnings per share. On average, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

AZO has been the topic of a number of research reports. Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. UBS Group lifted their target price on AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Mizuho boosted their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their price objective on AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Oppenheimer raised AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 target price for the company in a research note on Friday, May 2nd. 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 company has a consensus rating of "Buy" and an average target price of $4,087.00.

Insider Buying and Selling at AutoZone

In related news, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the transaction, the chief financial officer owned 427 shares of the company's stock, valued at approximately $1,591,877.35. This represents a 85.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value 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 $31,696,515.78. The trade was a 76.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,862 shares of company stock worth $114,431,089. 2.10% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.