Allworth Financial LP Boosts Holdings in AutoZone, Inc. $AZO

Allworth Financial LP boosted its stake in AutoZone, Inc. (NYSE:AZO) by 125.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 401 shares of the company’s stock after acquiring an additional 223 shares during the period. Allworth Financial LP’s holdings in AutoZone were worth $1,718,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone in the third quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new stake in AutoZone during the third quarter valued at about $26,000. Global Trust Asset Management LLC lifted its holdings in AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in AutoZone during the second quarter worth about $33,000. Finally, Salomon & Ludwin LLC bought a new position in AutoZone during the third quarter worth about $34,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the transaction, the vice president directly owned 2,627 shares in the company, valued at approximately $9,719,900. This represents a 69.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the transaction, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,447 shares of company stock valued at $34,179,923 over the last 90 days. 2.60% of the stock is owned by insiders.

AutoZone Price Performance

Shares of AZO opened at $3,287.09 on Monday. The firm’s 50 day simple moving average is $3,656.84 and its 200 day simple moving average is $3,771.00. The company has a market capitalization of $54.47 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.68 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly 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 business 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%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $28.29 EPS. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Ratings Changes

AZO has been the topic of several research reports. Mizuho boosted their price target on shares of AutoZone from $3,550.00 to $3,600.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Robert W. Baird lowered shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price objective for the company. in a research note on Monday, February 9th. Wells Fargo & Company lowered their target price on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. BMO Capital Markets dropped their target price on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Finally, Raymond James Financial cut their price target on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, AutoZone presently has a consensus 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.