Robertson Stephens Wealth Management LLC Makes New $672,000 Investment in AutoZone, Inc. $AZO

Robertson Stephens Wealth Management LLC bought a new position in AutoZone, Inc. (NYSE:AZO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 198 shares of the company’s stock, valued at approximately $672,000.

A number of other large investors have also added to or reduced their stakes in the company. Turning Point Benefit Group Inc. purchased a new position in AutoZone in the third quarter worth $25,000. Raleigh Capital Management Inc. purchased a new position in AutoZone in the third quarter worth $26,000. Torren Management LLC purchased a new position in AutoZone in the fourth quarter worth $27,000. Global Trust Asset Management LLC grew its holdings in AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in AutoZone in the third quarter worth $34,000. 92.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. UBS Group set a $4,800.00 price target on shares of AutoZone in a report on Tuesday, March 3rd. Evercore boosted their price target on AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. DA Davidson set a $4,300.00 price target on AutoZone in a research note on Thursday, March 5th. Truist Financial dropped their price target on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, Oppenheimer restated an “outperform” rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4,312.13.

Insider Buying and Selling

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of AZO stock opened at $3,592.41 on Monday. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The firm has a market capitalization of $59.20 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.84 and a beta of 0.43. The stock’s 50-day simple moving average is $3,544.72 and its 200-day simple moving average is $3,627.63.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $28.29 earnings per share. As a group, equities analysts forecast that AutoZone, Inc. will post 148.93 earnings per share for the current year.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.