Concurrent Investment Advisors LLC Grows Stock Position in AutoZone, Inc. $AZO

Concurrent Investment Advisors LLC boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 91.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 564 shares of the company’s stock after buying an additional 269 shares during the period. Concurrent Investment Advisors LLC’s holdings in AutoZone were worth $1,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. purchased a new stake in AutoZone in the third quarter worth $26,000. Turning Point Benefit Group Inc. purchased a new stake in AutoZone in the third quarter worth $25,000. Global Trust Asset Management LLC increased its stake in AutoZone by 600.0% in 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. Salomon & Ludwin LLC purchased a new stake in AutoZone in the third quarter worth $34,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in AutoZone in the third quarter worth $43,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity

In other news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

AutoZone Trading Down 0.9%

AZO opened at $3,529.62 on Thursday. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The business’s fifty day simple moving average is $3,545.50 and its 200-day simple moving average is $3,633.36. The company has a market capitalization of $58.16 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.83 and a beta of 0.41.

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

Analyst Ratings Changes

A number of research firms have weighed in on AZO. Robert W. Baird lowered AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price on the stock. in a research note on Monday, February 9th. Roth Mkm reduced their target price on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Oppenheimer reiterated an “outperform” rating and issued a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. TD Cowen reduced their target price on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Finally, UBS Group set a $4,800.00 target price on AutoZone in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4,312.13.

About AutoZone

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.