D.A. Davidson & CO. Raises Stock Position in AutoZone, Inc. (NYSE:AZO)

D.A. Davidson & CO. increased its holdings in AutoZone, Inc. (NYSE:AZO) by 27.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 807 shares of the company’s stock after acquiring an additional 173 shares during the quarter. D.A. Davidson & CO.’s holdings in AutoZone were worth $2,087,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Clearbridge Investments LLC boosted its position in shares of AutoZone by 3.0% during the 4th quarter. Clearbridge Investments LLC now owns 6,179 shares of the company’s stock worth $15,976,000 after purchasing an additional 179 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of AutoZone by 114.4% in the 4th quarter. Thoroughbred Financial Services LLC now owns 669 shares of the company’s stock worth $1,729,000 after buying an additional 357 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of AutoZone by 14.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 437 shares of the company’s stock worth $1,130,000 after buying an additional 55 shares in the last quarter. NFC Investments LLC purchased a new stake in shares of AutoZone in the 4th quarter worth about $16,165,000. Finally, PineStone Asset Management Inc. boosted its position in shares of AutoZone by 28.0% in the 4th quarter. PineStone Asset Management Inc. now owns 214,979 shares of the company’s stock worth $555,852,000 after buying an additional 47,027 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wedbush reduced their target price on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a report on Wednesday. Truist Financial dropped their price objective on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research note on Wednesday. Wolfe Research dropped their price objective on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays dropped their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Evercore ISI lowered their price objective on shares of AutoZone from $3,300.00 to $3,250.00 and set an “outperform” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3,066.53.

AutoZone Stock Up 0.6 %

Shares of NYSE AZO traded up $15.36 during midday trading on Friday, hitting $2,792.90. 93,928 shares of the company’s stock were exchanged, compared to its average volume of 152,881. The firm has a market capitalization of $48.37 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72. The company’s 50 day moving average price is $3,009.41 and its 200 day moving average price is $2,827.75. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the company posted $34.12 EPS. AutoZone’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that AutoZone, Inc. will post 151.5 EPS for the current year.

Insider Activity

In other AutoZone 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 sale, the vice president now owns 910 shares in the company, valued at $2,912,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Jenna M. Bedsole acquired 36 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the acquisition, the vice president now directly owns 36 shares in the company, valued at $99,255.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Eric S. Gould sold 2,100 shares of AutoZone stock in a transaction that occurred 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 completion of the sale, the vice president now directly 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 a total of 15,990 shares of company stock valued at $50,335,193 over the last three months. Corporate insiders own 2.50% of the company’s stock.

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.