L. Roy Papp & Associates LLP Purchases 5 Shares of AutoZone, Inc. (NYSE:AZO)

L. Roy Papp & Associates LLP grew its position in AutoZone, Inc. (NYSE:AZO) by 7.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 75 shares of the company’s stock after buying an additional 5 shares during the period. L. Roy Papp & Associates LLP’s holdings in AutoZone were worth $286,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AZO. GAMMA Investing LLC raised its holdings in AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company’s stock worth $2,936,535,000 after acquiring an additional 770,005 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after purchasing an additional 419,375 shares during the last quarter. Norges Bank bought a new position in shares of AutoZone during the fourth quarter valued at $834,556,000. Strategic Financial Concepts LLC bought a new position in shares of AutoZone during the fourth quarter valued at $471,629,000. Finally, Wealthfront Advisers LLC boosted its position in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock valued at $290,281,000 after buying an additional 89,190 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 136 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the transaction, the senior vice president now owns 403 shares in the company, valued at $1,430,682.24. This trade represents a 25.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the sale, the chief financial officer now owns 427 shares in the company, valued at $1,591,877.35. This represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,973 shares of company stock valued at $51,346,997 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of AZO stock opened at $3,717.74 on Thursday. AutoZone, Inc. has a 52-week low of $2,750.53 and a 52-week high of $3,916.81. The firm has a market capitalization of $62.39 billion, a PE ratio of 24.84, a PEG ratio of 1.86 and a beta of 0.40. The stock has a fifty day simple moving average of $3,697.68 and a two-hundred day simple moving average of $3,479.05.

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 analysts’ consensus estimates of $37.07 by ($1.71). The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $36.69 EPS. On average, sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on AZO. Morgan Stanley restated an “overweight” rating and set a $4,000.00 target price (up previously from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Mizuho increased their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Evercore ISI set a $3,950.00 target price on shares of AutoZone in a report on Monday, May 19th. Raymond James reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Wall Street Zen upgraded AutoZone from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, 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.