AutoZone, Inc. (NYSE:AZO) Shares Sold by RBA Wealth Management LLC

RBA Wealth Management LLC lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,631 shares of the company’s stock after selling 36 shares during the quarter. AutoZone comprises about 3.0% of RBA Wealth Management LLC’s investment portfolio, making the stock its 5th largest position. RBA Wealth Management LLC’s holdings in AutoZone were worth $6,803,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in AutoZone by 2.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 202 shares of the company’s stock valued at $513,000 after buying an additional 4 shares during the last quarter. Plancorp LLC boosted its holdings in AutoZone by 3.0% in the third quarter. Plancorp LLC now owns 136 shares of the company’s stock valued at $345,000 after acquiring an additional 4 shares during the last quarter. Alcosta Capital Management Inc. increased its position in AutoZone by 0.3% in the third quarter. Alcosta Capital Management Inc. now owns 1,255 shares of the company’s stock worth $3,188,000 after purchasing an additional 4 shares during the period. Hohimer Wealth Management LLC raised its holdings in AutoZone by 1.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock worth $917,000 after purchasing an additional 4 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its position in AutoZone by 3.8% during the 4th quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock valued at $283,000 after purchasing an additional 4 shares during the period. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

NYSE AZO traded down $4.30 during trading on Tuesday, hitting $2,933.62. The stock had a trading volume of 38,215 shares, compared to its average volume of 148,157. The company has a market capitalization of $50.81 billion, a PE ratio of 20.69, a P/E/G ratio of 1.48 and a beta of 0.72. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,256.37. The company’s 50-day moving average price is $3,054.09 and its two-hundred day moving average price is $2,806.69.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, topping the consensus estimate of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the prior year, the company posted $24.64 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, equities analysts anticipate that AutoZone, Inc. will post 152.4 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the sale, the chief executive officer now owns 900 shares in the company, valued at $2,845,512. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Philip B. Daniele sold 4,190 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the transaction, the chief executive officer now directly owns 900 shares in the company, valued at $2,845,512. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Eric S. Gould sold 2,100 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the vice president now owns 910 shares of the company’s stock, valued at approximately $2,912,000. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock worth $50,335,193 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AZO. JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. DA Davidson lifted their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Mizuho assumed coverage on AutoZone in a research note on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 target price on the stock. UBS Group boosted their target price on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Truist Financial increased their price target on shares of AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,108.83.

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.