NorthRock Partners LLC Increases Position in AutoZone, Inc. (NYSE:AZO)

NorthRock Partners LLC boosted its position in AutoZone, Inc. (NYSE:AZO) by 8.2% in the 1st quarter, Holdings Channel reports. The fund owned 105 shares of the company’s stock after purchasing an additional 8 shares during the period. NorthRock Partners LLC’s holdings in AutoZone were worth $400,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AZO. Tandem Wealth Advisors LLC raised its stake in AutoZone by 3.6% during the fourth quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company’s stock worth $279,000 after purchasing an additional 3 shares during the period. United Capital Financial Advisors LLC lifted its stake in shares of AutoZone by 0.3% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company’s stock valued at $3,585,000 after purchasing an additional 3 shares in the last quarter. Forum Financial Management LP lifted its stake in shares of AutoZone by 2.2% in the 4th quarter. Forum Financial Management LP now owns 138 shares of the company’s stock valued at $443,000 after purchasing an additional 3 shares in the last quarter. Focus Financial Network Inc. grew its holdings in shares of AutoZone by 2.9% during the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company’s stock worth $400,000 after purchasing an additional 3 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its position in AutoZone by 2.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company’s stock worth $538,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Jamere Jackson sold 2,612 shares of the business’s stock in a transaction on 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 directly owned 427 shares of the company’s stock, valued at $1,591,877.35. The trade was a 85.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares of the company’s stock, valued at $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,862 shares of company stock worth $126,058,789 over the last quarter. 2.10% of the stock is currently owned by insiders.

AutoZone Stock Performance

AZO opened at $3,858.37 on Friday. The company has a market capitalization of $64.74 billion, a PE ratio of 26.11, a P/E/G ratio of 2.25 and a beta of 0.38. The stock’s fifty day moving average is $3,707.59 and its 200-day moving average is $3,615.00. AutoZone, Inc. has a one year low of $2,898.57 and a one year high of $3,919.50.

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 business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter last year, the business posted $36.69 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AZO has been the topic of several analyst reports. Mizuho raised their target price on AutoZone from $3,740.00 to $4,050.00 and gave the company an “outperform” rating in a report on Thursday, July 3rd. Guggenheim lifted their price objective on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Bank of America raised shares of AutoZone from a “neutral” rating to a “buy” rating and raised their price target for the company from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Evercore ISI set a $3,950.00 price objective on AutoZone in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $4,087.00.

AutoZone Company 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.