AutoZone, Inc. (NYSE:AZO) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC raised its stake in AutoZone, Inc. (NYSE:AZO) by 14.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 117 shares of the company’s stock after acquiring an additional 15 shares during the period. Modern Wealth Management LLC’s holdings in AutoZone were worth $401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Flagship Wealth Advisors LLC purchased a new position in shares of AutoZone in the 4th quarter valued at $32,000. Harbour Investments Inc. boosted its stake in AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after acquiring an additional 3 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of AutoZone during the fourth quarter worth about $61,000. McIlrath & Eck LLC grew its holdings in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of AutoZone during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Up 3.9 %

NYSE:AZO opened at $3,825.31 on Friday. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,860.85. The firm’s fifty day simple moving average is $3,472.82 and its 200-day simple moving average is $3,273.98. The stock has a market cap of $64.20 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Truist Financial raised their price target on AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Wedbush restated an “outperform” rating and set a $3,700.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. DA Davidson raised shares of AutoZone from a “neutral” rating to a “buy” rating and lifted their target price for the company from $3,500.00 to $4,192.00 in a report on Friday, March 21st. Citigroup increased their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen lifted their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,683.36.

Insider Activity at AutoZone

In related news, VP Dennis W. Leriche sold 1,575 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the sale, the vice president now directly owns 417 shares of the company’s stock, valued at approximately $1,501,200. This represents a 79.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the sale, the senior vice president now directly owns 403 shares in the company, valued at $1,430,682.24. This trade represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,721 shares of company stock valued at $17,009,311 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

AutoZone Company Profile

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.