Virtu Financial LLC Makes New $4.34 Million Investment in AutoZone, Inc. (NYSE:AZO)

Key Points

• Virtu Financial LLC has made a new investment of approximately $4.34 million in AutoZone, purchasing 1,140 shares during the first quarter.
• AutoZone reported earnings per share of $35.36 for the most recent quarter, falling short of the consensus estimate by $1.71, despite a revenue increase of 5.4% year-over-year.
• Despite recent insider selling, analysts maintain a consensus rating of "Buy" for AutoZone, with target prices ranging from $3,811 to $4,850.

Virtu Financial LLC purchased a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,140 shares of the company's stock, valued at approximately $4,344,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AlphaCore Capital LLC purchased a new stake in shares of AutoZone during the first quarter worth approximately $27,000. Cornerstone Planning Group LLC purchased a new stake in shares of AutoZone during the first quarter worth approximately $44,000. Clearstead Trust LLC purchased a new stake in shares of AutoZone during the first quarter worth approximately $46,000. Tradewinds Capital Management LLC increased its stake in shares of AutoZone by 30.0% during the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after buying an additional 3 shares during the period. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter worth approximately $45,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction 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 sale, the chairman directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the sale, the senior vice president directly owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,862 shares of company stock valued at $126,058,789 in the last ninety days. Company insiders own 2.10% of the company's stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $4,036.97 on Friday. The stock has a fifty day moving average price of $3,737.09 and a 200 day moving average price of $3,644.88. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,094.69. The company has a market cap of $67.74 billion, a PE ratio of 27.32, a P/E/G ratio of 2.41 and a beta of 0.38.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results 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). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period in the prior year, the business earned $36.69 earnings per share. AutoZone's revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AZO. Morgan Stanley restated an "overweight" rating and set a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Truist Financial set a $3,995.00 price target on AutoZone in a report on Friday, May 23rd. Mizuho upped their price target on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a report on Friday, May 23rd. Finally, DA Davidson upped their price target on AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $4,087.00.

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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