AutoZone, Inc. (NYSE:AZO) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC lessened its stake in AutoZone, Inc. (NYSE:AZO) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,655 shares of the company’s stock after selling 33 shares during the quarter. Advisory Services Network LLC’s holdings in AutoZone were worth $6,864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Rock Creek Group LP purchased a new position in AutoZone in the third quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of AutoZone during the third quarter worth approximately $51,000. Turtle Creek Wealth Advisors LLC bought a new position in AutoZone during the fourth quarter worth $54,000. Private Wealth Management Group LLC bought a new position in AutoZone during the fourth quarter worth $54,000. Finally, Buck Wealth Strategies LLC bought a new stake in AutoZone in the third quarter valued at $64,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity at AutoZone

In related news, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 910 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the transaction, the vice president now directly owns 910 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jenna M. Bedsole acquired 36 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the acquisition, the vice president now owns 36 shares in the company, valued at approximately $99,255.60. The disclosure for this purchase can be found here. Insiders sold 15,990 shares of company stock worth $50,335,193 over the last three months. Company insiders own 2.50% of the company’s stock.

AutoZone Stock Up 0.6 %

AZO stock traded up $15.36 during trading on Friday, reaching $2,792.90. The company’s stock had a trading volume of 93,928 shares, compared to its average volume of 152,881. The company has a market capitalization of $48.37 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72. The company’s fifty day moving average is $3,009.41 and its 200-day moving average is $2,827.75. AutoZone, Inc. has a 1 year low of $2,277.88 and a 1 year high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the business posted $34.12 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Analysts anticipate that AutoZone, Inc. will post 151.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Truist Financial dropped their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup reduced their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a report on Wednesday. Wolfe Research cut their target price on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Mizuho reduced their target price on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $3,066.53.

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.