Avestar Capital LLC Buys 23 Shares of AutoZone, Inc. (NYSE:AZO)

Avestar Capital LLC raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 416 shares of the company’s stock after acquiring an additional 23 shares during the quarter. Avestar Capital LLC’s holdings in AutoZone were worth $1,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AZO. Rock Creek Group LP bought a new stake in shares of AutoZone during the third quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of AutoZone during the 3rd quarter valued at $51,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AutoZone in the 4th quarter worth about $54,000. Private Wealth Management Group LLC bought a new position in shares of AutoZone in the 4th quarter worth about $54,000. Finally, Tacita Capital Inc lifted its position in AutoZone by 20.8% during the 3rd quarter. Tacita Capital Inc now owns 29 shares of the company’s stock valued at $74,000 after acquiring an additional 5 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 1.2 %

NYSE:AZO traded up $32.33 on Thursday, hitting $2,771.43. The stock had a trading volume of 112,320 shares, compared to its average volume of 153,818. The business’s 50-day simple moving average is $2,978.28 and its two-hundred day simple moving average is $2,830.67. The stock has a market cap of $48.00 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.40 and a beta of 0.72. AutoZone, Inc. has a 52-week low of $2,277.88 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the firm posted $34.12 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that AutoZone, Inc. will post 151.75 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on AZO. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Mizuho lowered their price objective on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Truist Financial cut their target price on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their price target on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley cut their price objective on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,066.53.

Insider Activity

In related news, VP Jenna M. Bedsole purchased 36 shares of AutoZone stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the transaction, the vice president now directly owns 36 shares in the company, valued at approximately $99,255.60. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Jenna M. Bedsole purchased 36 shares of the stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the acquisition, the vice president now directly owns 36 shares of the company’s stock, valued at $99,255.60. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the transaction, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The disclosure for this sale can be found here. Insiders sold a total of 12,990 shares of company stock valued at $41,341,913 in the last 90 days. Company 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.