Burling Wealth Partners LLC Trims Position in AutoZone, Inc. $AZO

Burling Wealth Partners LLC lessened its stake in AutoZone, Inc. (NYSE:AZO) by 28.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 442 shares of the company’s stock after selling 174 shares during the period. Burling Wealth Partners LLC’s holdings in AutoZone were worth $1,499,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Turning Point Benefit Group Inc. purchased a new position in AutoZone during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. purchased a new position in AutoZone during the 3rd quarter valued at about $26,000. Torren Management LLC purchased a new position in AutoZone during the 4th quarter valued at about $27,000. Elevated Capital Advisors LLC purchased a new position in AutoZone during the 4th quarter valued at about $37,000. Finally, Ares Financial Consulting LLC purchased a new position in AutoZone during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group set a $4,800.00 target price on shares of AutoZone in a research report on Tuesday, March 3rd. Roth Mkm cut their target price on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price on the stock in a research report on Monday, March 9th. Evercore raised their target price on shares of AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Finally, Truist Financial cut their target price on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4,290.91.

AutoZone Stock Up 2.2%

AZO stock opened at $3,419.67 on Thursday. The firm has a 50 day moving average of $3,473.64 and a 200 day moving average of $3,588.47. The stock has a market capitalization of $56.36 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.72 and a beta of 0.43. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. AutoZone’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business earned $28.29 EPS. On average, equities research analysts expect that AutoZone, Inc. will post 148.93 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by company insiders.

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.