Avidian Wealth Solutions LLC Invests $248,000 in AutoZone, Inc. (NYSE:AZO)

Avidian Wealth Solutions LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO) during the fourth quarter, Holdings Channel.com reports. The fund bought 96 shares of the company’s stock, valued at approximately $248,000.

A number of other large investors have also added to or reduced their stakes in AZO. Rock Creek Group LP bought a new position in shares of AutoZone in the third quarter valued at about $25,000. ORG Partners LLC acquired a new position in AutoZone in the 3rd quarter valued at about $43,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in AutoZone during the third quarter worth approximately $51,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AutoZone during the fourth quarter worth approximately $54,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of AutoZone during the third quarter worth approximately $64,000. Institutional investors own 92.74% of the company’s stock.

Insider Activity

In related news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were 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 directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Philip B. Daniele sold 4,190 shares of AutoZone stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the sale, the chief executive officer now directly owns 900 shares of the company’s stock, valued at $2,845,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the transaction, the chairman now directly owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,990 shares of company stock worth $50,335,193. Corporate insiders own 2.50% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $2,967.70 on Tuesday. AutoZone, Inc. has a 52-week low of $2,277.88 and a 52-week high of $3,256.37. The firm has a market cap of $51.40 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.46 and a beta of 0.72. The business’s fifty day moving average is $3,055.88 and its 200-day moving average is $2,791.59.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating the consensus estimate of $26.08 by $2.81. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. AutoZone’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $24.64 earnings per share. As a group, research analysts forecast that AutoZone, Inc. will post 152.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays lifted their price target on AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. DA Davidson boosted their target price on shares of AutoZone from $2,770.00 to $3,025.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Mizuho assumed coverage on shares of AutoZone in a research note on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 price target on the stock. Morgan Stanley lifted their price objective on shares of AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Finally, Truist Financial increased their target price on shares of AutoZone from $3,363.00 to $3,523.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3,086.61.

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.