Mattern Capital Management LLC Buys Shares of 86 AutoZone, Inc. (NYSE:AZO)

Mattern Capital Management LLC purchased a new position in AutoZone, Inc. (NYSE:AZO) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 86 shares of the company’s stock, valued at approximately $271,000.

A number of other institutional investors also recently made changes to their positions in AZO. Crewe Advisors LLC acquired a new stake in shares of AutoZone in the first quarter valued at $236,000. Boulder Hill Capital Management LP acquired a new stake in AutoZone in the 1st quarter valued at about $3,782,000. Tiemann Investment Advisors LLC bought a new position in shares of AutoZone during the 1st quarter valued at about $230,000. Saturna Capital Corp boosted its position in shares of AutoZone by 0.7% during the 1st quarter. Saturna Capital Corp now owns 40,616 shares of the company’s stock valued at $128,007,000 after purchasing an additional 267 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of AutoZone by 7.3% in the 1st quarter. National Bank of Canada FI now owns 9,930 shares of the company’s stock worth $29,566,000 after purchasing an additional 679 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of AutoZone stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the purchase, the vice president now directly owns 36 shares of the company’s stock, valued at $99,255.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wolfe Research reduced their target price on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. UBS Group cut their target price on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Morgan Stanley decreased their price target on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. Finally, Citigroup cut their price objective on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Stock Up 3.2 %

Shares of AutoZone stock traded up $95.07 on Thursday, hitting $3,036.80. 186,230 shares of the company traded hands, compared to its average volume of 148,559. AutoZone, Inc. has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The company has a 50-day moving average price of $2,873.93 and a 200 day moving average price of $2,902.63. The company has a market cap of $51.87 billion, a PE ratio of 21.00, a PEG ratio of 1.46 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $34.12 earnings per share. Equities research analysts anticipate that AutoZone, Inc. will post 151.59 EPS for the current year.

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.