Tocqueville Asset Management L.P. Has $6.17 Million Holdings in AutoZone, Inc. (NYSE:AZO)

Tocqueville Asset Management L.P. grew its holdings in AutoZone, Inc. (NYSE:AZO) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,619 shares of the company’s stock after purchasing an additional 20 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in AutoZone were worth $6,173,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AZO. Gen Wealth Partners Inc increased its holdings in AutoZone by 8.5% in the first quarter. Gen Wealth Partners Inc now owns 254 shares of the company’s stock valued at $969,000 after purchasing an additional 20 shares during the last quarter. American Century Companies Inc. grew its position in shares of AutoZone by 1.3% during the 1st quarter. American Century Companies Inc. now owns 1,597 shares of the company’s stock worth $6,089,000 after buying an additional 20 shares during the period. Ethic Inc. increased its stake in shares of AutoZone by 4.7% in the 1st quarter. Ethic Inc. now owns 2,120 shares of the company’s stock valued at $8,083,000 after acquiring an additional 95 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of AutoZone by 0.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,785 shares of the company’s stock valued at $10,619,000 after acquiring an additional 25 shares during the period. Finally, Element Capital Management LLC acquired a new stake in shares of AutoZone in the 1st quarter valued at approximately $2,825,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In related news, Chairman William C. Rhodes III sold 27,500 shares of the 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 sale, the chairman owned 8,546 shares of the company’s stock, valued at $31,696,515.78. This represents a 76.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the sale, the chief financial officer owned 427 shares in the company, valued at $1,591,877.35. The trade was a 85.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,862 shares of company stock valued at $126,058,789 in the last three months. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on AZO. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a report on Friday, May 23rd. Wall Street Zen raised shares of AutoZone from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Roth Capital set a $4,135.00 price objective on shares of AutoZone and gave the company a “buy” rating in a research report on Monday, June 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Finally, Evercore ISI set a $3,950.00 target price on AutoZone in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $4,087.00.

AutoZone Price Performance

NYSE:AZO opened at $4,007.93 on Friday. The company has a market cap of $67.26 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.39 and a beta of 0.38. The firm’s fifty day moving average price is $3,765.61 and its two-hundred day moving average price is $3,668.31. AutoZone, Inc. has a one year low of $2,898.57 and a one year high of $4,094.69.

AutoZone (NYSE:AZO) last announced 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). 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 last year, the company posted $36.69 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current 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.