Raymond James Financial Services Advisors Inc. Purchases 125 Shares of AutoZone, Inc. (NYSE:AZO)

Raymond James Financial Services Advisors Inc. lifted its position in shares of AutoZone, Inc. (NYSE:AZOFree Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,667 shares of the company’s stock after buying an additional 125 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in AutoZone were worth $40,509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC bought a new stake in AutoZone during the third quarter valued at about $25,000. Rock Creek Group LP bought a new stake in AutoZone during the third quarter valued at about $25,000. First Capital Advisors Group LLC. bought a new stake in AutoZone during the second quarter valued at about $32,000. MUFG Americas Holdings Corp boosted its position in AutoZone by 166.7% during the third quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after purchasing an additional 10 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new stake in AutoZone during the third quarter valued at about $38,000. Institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction on Tuesday, March 26th. The stock was 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 document filed with the SEC, which is accessible through the SEC website. In other news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction on Tuesday, March 26th. The stock was 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 document filed with the SEC, which is accessible through the SEC website. Also, COO Thomas B. Newbern sold 7,800 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $2,551.62, for a total value of $19,902,636.00. Following the transaction, the chief operating officer now owns 2,519 shares of the company’s stock, valued at $6,427,530.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,797 shares of company stock worth $81,010,974. 2.50% of the stock is currently owned by company insiders.

AutoZone Stock Performance

NYSE AZO opened at $3,191.48 on Wednesday. The stock’s fifty day moving average is $2,891.93 and its two-hundred day moving average is $2,691.78. The firm has a market capitalization of $55.21 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.71 and a beta of 0.70. AutoZone, Inc. has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZOGet Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. The company 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%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $24.64 earnings per share. As a group, sell-side analysts forecast that AutoZone, Inc. will post 151.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AZO shares. Stephens raised their price objective on AutoZone from $3,000.00 to $3,070.00 and gave the company an “overweight” rating in a research report on Wednesday, December 6th. Morgan Stanley raised their price target on AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. TheStreet downgraded AutoZone from a “c” rating to a “d+” rating in a report on Wednesday, December 20th. Barclays raised 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. Finally, JPMorgan Chase & Co. raised their price target on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $3,080.72.

Check Out Our Latest Report on AutoZone

AutoZone Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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