AutoZone, Inc. (NYSE:AZO) Stock Position Raised by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 474 shares of the company’s stock after purchasing an additional 79 shares during the period. Apollon Wealth Management LLC’s holdings in AutoZone were worth $1,225,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC lifted its stake in AutoZone by 232,194.6% during the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after buying an additional 731,413 shares in the last quarter. Royal Bank of Canada boosted its stake in AutoZone by 1.3% in the 3rd quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock worth $1,121,572,000 after purchasing an additional 5,650 shares during the period. Wellington Management Group LLP grew its position in AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after purchasing an additional 176,623 shares in the last quarter. Morgan Stanley raised its stake in AutoZone by 4.5% during the 3rd quarter. Morgan Stanley now owns 259,964 shares of the company’s stock valued at $660,309,000 after purchasing an additional 11,104 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of AutoZone by 0.7% in the third quarter. Northern Trust Corp now owns 212,376 shares of the company’s stock valued at $539,433,000 after purchasing an additional 1,516 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AZO shares. Truist Financial lifted their price target on AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Barclays increased their price target on shares of AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Wedbush upped their price objective on shares of AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. UBS Group boosted their price target on shares of AutoZone from $3,100.00 to $3,425.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Evercore ISI cut their price objective on AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $3,108.83.

Insiders Place Their Bets

In related news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the transaction, the vice president now directly owns 2,921 shares in the company, valued at approximately $8,756,456.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the transaction, the vice president now directly owns 2,921 shares in the company, valued at $8,756,456.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip B. Daniele sold 4,190 shares of AutoZone stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the sale, the chief executive officer now directly owns 900 shares in the company, valued at approximately $2,845,512. The disclosure for this sale can be found here. Insiders have sold a total of 15,990 shares of company stock valued at $50,335,193 in the last three months. Company insiders own 2.50% of the company’s stock.

AutoZone Trading Down 0.9 %

NYSE AZO opened at $2,962.52 on Thursday. AutoZone, Inc. has a 1 year low of $2,277.88 and a 1 year high of $3,256.37. The company has a fifty day simple moving average of $3,056.63 and a 200 day simple moving average of $2,795.11. The company has a market cap of $51.31 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.46 and a beta of 0.72.

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

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.