Azzad Asset Management Inc. ADV Has $2.76 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Azzad Asset Management Inc. ADV boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 723 shares of the company’s stock after purchasing an additional 7 shares during the period. Azzad Asset Management Inc. ADV’s holdings in AutoZone were worth $2,757,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in AutoZone during the fourth quarter valued at approximately $29,000. Flagship Wealth Advisors LLC acquired a new position in AutoZone during the fourth quarter valued at approximately $32,000. Harbour Investments Inc. boosted its position in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after purchasing an additional 3 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $45,000. Finally, MV Capital Management Inc. lifted its position in shares of AutoZone by 128.6% in the first quarter. MV Capital Management Inc. now owns 16 shares of the company’s stock valued at $61,000 after buying an additional 9 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

AutoZone stock opened at $3,634.34 on Friday. AutoZone, Inc. has a one year low of $2,792.14 and a one year high of $3,916.81. The stock’s fifty day moving average price is $3,695.70 and its two-hundred day moving average price is $3,506.97. The firm has a market cap of $60.99 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40.

AutoZone (NYSE:AZO) last issued 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). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the business posted $36.69 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Domingo Hurtado sold 4,800 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the sale, the vice president now owns 159 shares of the company’s stock, valued at $581,940. This trade represents a 96.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Richard Craig Smith sold 2,850 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the sale, the vice president now directly owns 2,924 shares in the company, valued at approximately $10,555,640. This trade represents a 49.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,762 shares of company stock worth $147,189,762. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $4,100.00 price objective (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Roth Capital set a $4,135.00 price objective on AutoZone and gave the company a “buy” rating in a research report on Monday, June 2nd. Wall Street Zen raised AutoZone from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. raised their price objective on AutoZone from $3,830.00 to $4,350.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. Finally, Guggenheim raised their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, AutoZone currently has a consensus rating of “Buy” and an average price target of $4,072.24.

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.