AutoZone, Inc. (NYSE:AZO) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lessened its stake in AutoZone, Inc. (NYSE:AZO) by 12.5% in the 1st quarter, Holdings Channel reports. The firm owned 246 shares of the company’s stock after selling 35 shares during the period. HBK Sorce Advisory LLC’s holdings in AutoZone were worth $938,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC increased its position in shares of AutoZone by 714.3% during the first quarter. Golden State Wealth Management LLC now owns 57 shares of the company’s stock worth $217,000 after acquiring an additional 50 shares during the period. Spire Wealth Management raised its position in shares of AutoZone by 729.0% during the 1st quarter. Spire Wealth Management now owns 829 shares of the company’s stock worth $3,161,000 after acquiring an additional 729 shares in the last quarter. Mattern Capital Management LLC raised its holdings in AutoZone by 7.2% during the first quarter. Mattern Capital Management LLC now owns 178 shares of the company’s stock worth $679,000 after purchasing an additional 12 shares in the last quarter. International Assets Investment Management LLC lifted its position in AutoZone by 25.2% in the first quarter. International Assets Investment Management LLC now owns 417 shares of the company’s stock valued at $1,590,000 after acquiring an additional 84 shares during the last quarter. Finally, Cornerstone Wealth Group LLC purchased a new stake in shares of AutoZone in the 1st quarter valued at about $539,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AZO shares. Roth Capital set a $4,135.00 target price on shares of AutoZone and gave the company a “buy” rating in a report on Monday, June 2nd. Oppenheimer raised AutoZone from a “market perform” rating to an “outperform” rating and set a $4,600.00 price objective for the company in a report on Friday, May 2nd. Mizuho upped their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 28th. Finally, Evercore ISI set a $3,950.00 target price on shares of AutoZone in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $4,072.24.

AutoZone Stock Down 2.6%

Shares of AZO opened at $3,485.54 on Thursday. The company has a 50-day moving average price of $3,696.27 and a two-hundred day moving average price of $3,529.06. The stock has a market cap of $58.49 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.14 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $2,801.49 and a 12 month high of $3,916.81.

AutoZone (NYSE:AZO) last posted 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). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the previous year, the business posted $36.69 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jamere Jackson sold 2,612 shares of AutoZone 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 sale, the chief financial officer now directly owns 427 shares in the company, valued at $1,591,877.35. This trade represents a 85.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Domingo Hurtado sold 4,800 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the sale, the vice president now directly owns 159 shares of the company’s stock, valued at $581,940. This represents a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,662 shares of company stock valued at $131,999,089. 2.10% of the stock is currently owned by corporate insiders.

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.