Focus Partners Wealth Buys 4,492 Shares of AutoZone, Inc. $AZO

Focus Partners Wealth lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 43.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,935 shares of the company’s stock after buying an additional 4,492 shares during the quarter. Focus Partners Wealth’s holdings in AutoZone were worth $62,941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Raleigh Capital Management Inc. bought a new stake in shares of AutoZone during the third quarter worth approximately $26,000. Global Trust Asset Management LLC increased its stake in shares of AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the period. Loomis Sayles & Co. L P acquired a new stake in AutoZone during the 2nd quarter worth approximately $33,000. Salomon & Ludwin LLC acquired a new stake in AutoZone during the 3rd quarter worth approximately $34,000. Finally, AlphaCore Capital LLC boosted its stake in AutoZone by 42.9% in the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock valued at $37,000 after purchasing an additional 3 shares during the period. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael A. George purchased 145 shares of AutoZone stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the transaction, the director owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brian Hannasch acquired 147 shares of the stock in a transaction on Thursday, December 18th. The shares were purchased at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the transaction, the director owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 9,447 shares of company stock worth $34,179,923. 2.60% of the stock is owned by company insiders.

AutoZone Stock Performance

AZO opened at $3,490.55 on Tuesday. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The firm has a market cap of $57.84 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.82 and a beta of 0.41. The business’s fifty day moving average is $3,654.14 and its 200-day moving average is $3,794.52.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $28.29 earnings per share. On average, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AZO. Barclays increased their price objective on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. TD Cowen reduced their target price on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research report on Monday. Wolfe Research lowered shares of AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. Truist Financial dropped their price objective on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Finally, Evercore boosted their price objective on shares of AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4,312.13.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.