AutoZone, Inc. $AZO Shares Purchased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp raised its position in AutoZone, Inc. (NYSE:AZO) by 13.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,497 shares of the company’s stock after acquiring an additional 182 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in AutoZone were worth $5,077,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. acquired a new stake in AutoZone in the 3rd quarter worth about $26,000. Turning Point Benefit Group Inc. acquired a new stake in AutoZone in the 3rd quarter worth about $25,000. Global Trust Asset Management LLC boosted its holdings in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after buying an additional 6 shares during the last quarter. Torren Management LLC acquired a new stake in AutoZone in the 4th quarter worth about $27,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in AutoZone in the 3rd quarter worth about $43,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AZO. Mizuho lifted their price objective on AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Robert W. Baird cut AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price objective on the stock. in a report on Monday, February 9th. TD Cowen lowered their price objective on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Citigroup lifted their price objective on AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Oppenheimer reissued an “outperform” rating and issued a $4,300.00 target price (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 stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,312.13.

AutoZone Price Performance

AZO opened at $3,363.72 on Thursday. The company’s 50 day simple moving average is $3,505.51 and its two-hundred day simple moving average is $3,602.70. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The firm has a market capitalization of $55.43 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.75 and a beta of 0.43.

AutoZone (NYSE:AZO) last released its 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. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the company posted $28.29 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts anticipate that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

AutoZone Company Profile

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.