Verde Capital Management Increases Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Verde Capital Management boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 32.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 911 shares of the company’s stock after acquiring an additional 225 shares during the quarter. AutoZone accounts for approximately 1.0% of Verde Capital Management’s investment portfolio, making the stock its 21st biggest position. Verde Capital Management’s holdings in AutoZone were worth $3,473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in AutoZone during the 4th quarter valued at about $29,000. Flagship Wealth Advisors LLC purchased a new position in AutoZone during the 4th quarter valued at about $32,000. Harbour Investments Inc. boosted its holdings in AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after acquiring an additional 3 shares during the period. Minot DeBlois Advisors LLC purchased a new position in AutoZone during the 4th quarter valued at about $45,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in AutoZone by 750.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company’s stock valued at $54,000 after acquiring an additional 15 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,736.21 on Friday. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,916.81. The firm has a market capitalization of $62.70 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.86 and a beta of 0.44. The stock’s 50-day simple moving average is $3,698.83 and its 200-day simple moving average is $3,466.57.

AutoZone (NYSE:AZO) last issued its earnings results 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 negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period last year, the business posted $36.69 EPS. AutoZone’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Dennis W. Leriche sold 1,575 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the completion of the sale, the vice president now owns 417 shares in the company, valued at approximately $1,501,200. The trade was a 79.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total value of $482,810.88. Following the completion of the sale, the senior vice president now owns 403 shares of the company’s stock, valued at approximately $1,430,682.24. This represents a 25.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,521 shares of company stock worth $42,177,331. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho raised their target price on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Roth Mkm lifted their price objective 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. BMO Capital Markets reiterated an “outperform” rating and issued a $4,100.00 price objective (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday. Evercore ISI set a $3,950.00 price objective on AutoZone in a research note on Monday, May 19th. Finally, Roth Capital set a $3,763.00 price objective on AutoZone in a research note on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $4,054.52.

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.