Allstate Corp Has $2.32 Million Holdings in AutoZone, Inc. $AZO

Allstate Corp raised its stake in AutoZone, Inc. (NYSE:AZO) by 19.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 609 shares of the company’s stock after purchasing an additional 99 shares during the period. Allstate Corp’s holdings in AutoZone were worth $2,322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1832 Asset Management L.P. raised its position in shares of AutoZone by 16.5% during the first quarter. 1832 Asset Management L.P. now owns 16,073 shares of the company’s stock valued at $61,283,000 after buying an additional 2,280 shares during the last quarter. Compound Planning Inc. grew its position in AutoZone by 16.0% during the first quarter. Compound Planning Inc. now owns 210 shares of the company’s stock worth $801,000 after buying an additional 29 shares in the last quarter. Norinchukin Bank The increased its stake in AutoZone by 15.2% during the first quarter. Norinchukin Bank The now owns 896 shares of the company’s stock valued at $3,416,000 after acquiring an additional 118 shares during the period. CW Advisors LLC raised its holdings in AutoZone by 19.8% in the 1st quarter. CW Advisors LLC now owns 236 shares of the company’s stock valued at $901,000 after acquiring an additional 39 shares in the last quarter. Finally, Martin Investment Management LLC raised its holdings in AutoZone by 0.5% in the 1st quarter. Martin Investment Management LLC now owns 1,997 shares of the company’s stock valued at $7,614,000 after acquiring an additional 9 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Activity

In other news, Chairman William C. Rhodes III sold 27,500 shares of the business’s 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 value of $101,995,575.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the stock in a transaction that occurred on 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 owned 427 shares in the company, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,862 shares of company stock worth $126,058,789. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Oppenheimer raised AutoZone from a “market perform” rating to an “outperform” rating and set a $4,600.00 price objective on the stock in a report on Friday, May 2nd. UBS Group boosted their price target on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a “buy” rating in a report on Friday, May 23rd. The Goldman Sachs Group set a $3,811.00 price objective on shares of AutoZone in a report on Friday, May 23rd. Roth Capital set a $4,135.00 target price on shares of AutoZone and gave the company a “buy” rating in a research report on Monday, June 2nd. Finally, Mizuho increased their price target on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, AutoZone presently has an average rating of “Buy” and a consensus target price of $4,101.29.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $4,104.35 on Friday. The company’s fifty day moving average is $3,809.57 and its 200-day moving average is $3,690.97. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,187.39. The company has a market capitalization of $68.88 billion, a PE ratio of 27.78, a P/E/G ratio of 2.46 and a beta of 0.38.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $37.07 by ($1.71). The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $36.69 earnings per share. On average, analysts forecast that AutoZone, Inc. will post 152.94 EPS 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.