MV Capital Management Inc. Raises Stock Position in AutoZone, Inc. (NYSE:AZO)

MV Capital Management Inc. lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 128.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16 shares of the company’s stock after acquiring an additional 9 shares during the quarter. MV Capital Management Inc.’s holdings in AutoZone were worth $61,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in AutoZone by 435,031.1% during the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company’s stock valued at $2,936,535,000 after buying an additional 770,005 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after buying an additional 419,375 shares during the period. Norges Bank purchased a new stake in shares of AutoZone during the fourth quarter worth $834,556,000. Strategic Financial Concepts LLC acquired a new stake in AutoZone during the fourth quarter valued at $471,629,000. Finally, Wealthfront Advisers LLC boosted its position in AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock valued at $290,281,000 after purchasing an additional 89,190 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling

In other 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 sale, the chief financial officer now owns 427 shares in the company, valued at $1,591,877.35. This represents a 85.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Craig Smith sold 2,850 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the sale, the vice president now owns 2,924 shares of the company’s stock, valued at approximately $10,555,640. The trade was a 49.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,262 shares of company stock valued at $45,194,187 in the last 90 days. Company insiders own 2.10% of the company’s stock.

AutoZone Stock Down 1.6%

Shares of AZO stock opened at $3,655.89 on Thursday. The firm has a market capitalization of $61.35 billion, a PE ratio of 24.42, a P/E/G ratio of 1.86 and a beta of 0.40. The company has a 50 day moving average price of $3,689.09 and a 200-day moving average price of $3,499.76. AutoZone, Inc. has a 52 week low of $2,792.14 and a 52 week high of $3,916.81.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts’ consensus estimates of $37.07 by ($1.71). The company 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 business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $36.69 EPS. Analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AZO. 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. Roth Mkm boosted their price target on AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Argus cut AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wall Street Zen raised AutoZone from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lifted their target price on AutoZone from $3,830.00 to $4,350.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $4,072.24.

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.