Wealthspire Advisors LLC Purchases 21 Shares of AutoZone, Inc. (NYSE:AZO)

Wealthspire Advisors LLC lifted its position in AutoZone, Inc. (NYSE:AZO) by 6.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 353 shares of the company’s stock after acquiring an additional 21 shares during the period. Wealthspire Advisors LLC’s holdings in AutoZone were worth $913,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AZO. International Assets Investment Management LLC lifted its position in AutoZone by 232,194.6% in the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after acquiring an additional 731,413 shares in the last quarter. Royal Bank of Canada raised its stake in shares of AutoZone by 1.3% in the third quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock worth $1,121,572,000 after purchasing an additional 5,650 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of AutoZone by 111.4% during the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after purchasing an additional 176,623 shares in the last quarter. Morgan Stanley boosted its position in shares of AutoZone by 4.5% during the third quarter. Morgan Stanley now owns 259,964 shares of the company’s stock valued at $660,309,000 after buying an additional 11,104 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in AutoZone by 0.7% in the 3rd quarter. Northern Trust Corp now owns 212,376 shares of the company’s stock worth $539,433,000 after buying an additional 1,516 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AZO shares. JPMorgan Chase & Co. raised their price target on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Mizuho began coverage on shares of AutoZone in a report on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 target price on the stock. Morgan Stanley lifted their price target on shares of AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Truist Financial increased their price objective on shares of AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3,108.83.

AutoZone Price Performance

Shares of AutoZone stock traded up $14.27 during trading on Friday, hitting $3,001.32. The stock had a trading volume of 3,706 shares, compared to its average volume of 148,160. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,256.37. The firm’s fifty day simple moving average is $3,055.54 and its 200-day simple moving average is $2,796.28. The stock has a market cap of $51.98 billion, a PE ratio of 21.03, a PEG ratio of 1.46 and a beta of 0.72.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period last year, the company earned $24.64 EPS. AutoZone’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts expect that AutoZone, Inc. will post 152.4 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, VP Eric S. Gould sold 2,100 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the transaction, the vice president now owns 910 shares of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,990 shares of company stock worth $50,335,193. 2.50% of the stock is currently owned by insiders.

About AutoZone

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.