RB Capital Management LLC Has $2.54 Million Position in AutoZone, Inc. $AZO

RB Capital Management LLC lessened its stake in AutoZone, Inc. (NYSE:AZO) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 666 shares of the company’s stock after selling 6 shares during the period. RB Capital Management LLC’s holdings in AutoZone were worth $2,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new stake in shares of AutoZone in the 1st quarter worth approximately $27,000. Financial Network Wealth Advisors LLC grew its holdings in shares of AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after purchasing an additional 4 shares during the last quarter. Cornerstone Planning Group LLC acquired a new stake in shares of AutoZone during the 1st quarter worth about $44,000. Clearstead Trust LLC bought a new position in AutoZone during the 1st quarter valued at about $46,000. Finally, Tradewinds Capital Management LLC lifted its holdings in AutoZone by 30.0% during the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company’s stock valued at $50,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on AZO shares. DA Davidson raised their price objective on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. BMO Capital Markets reaffirmed an “outperform” rating and set a $4,100.00 price target (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Wall Street Zen upgraded AutoZone from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. increased their target price on AutoZone from $3,830.00 to $4,350.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Finally, Mizuho raised their target price on AutoZone from $3,740.00 to $4,050.00 and gave the company an “outperform” rating in a research note on Thursday, July 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoZone has an average rating of “Buy” and an average target price of $4,101.29.

AutoZone Stock Up 1.0%

AutoZone stock opened at $4,180.49 on Wednesday. The business’s 50-day simple moving average is $3,831.83 and its 200 day simple moving average is $3,702.38. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,187.39. The stock has a market cap of $70.15 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 2.48 and a beta of 0.38.

AutoZone (NYSE:AZO) last released 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 negative return on equity of 56.07% and a net margin of 13.56%.The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the previous year, the business earned $36.69 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Activity

In related news, SVP K. Michelle Borninkhof sold 750 shares of the firm’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president owned 406 shares of the company’s stock, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief financial officer owned 427 shares in the company, valued at approximately $1,591,877.35. This represents a 85.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,862 shares of company stock valued at $126,058,789. 2.10% of the stock is owned by company 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.