Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $9.05 Million Stake in AutoZone, Inc. $AZO

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,669 shares of the company’s stock after buying an additional 170 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in AutoZone were worth $9,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AZO. Brighton Jones LLC raised its position in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares during the period. Sivia Capital Partners LLC bought a new position in AutoZone during the 2nd quarter worth approximately $356,000. American Century Companies Inc. grew its holdings in AutoZone by 1.4% during the second quarter. American Century Companies Inc. now owns 1,620 shares of the company’s stock valued at $6,014,000 after purchasing an additional 23 shares during the period. Level Four Advisory Services LLC bought a new stake in AutoZone in the second quarter valued at approximately $312,000. Finally, Loomis Sayles & Co. L P bought a new stake in AutoZone in the second quarter valued at approximately $33,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the transaction, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the transaction, the director owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 9,447 shares of company stock worth $34,179,923. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Up 1.5%

AutoZone stock opened at $3,428.81 on Thursday. The company has a 50 day moving average of $3,630.74 and a 200-day moving average of $3,723.86. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The stock has a market capitalization of $56.51 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.73 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted $28.29 earnings per share. Equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AZO shares. Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. UBS Group set a $4,800.00 price objective on AutoZone in a research note on Tuesday, March 3rd. DA Davidson set a $4,300.00 target price on AutoZone in a report on Thursday, March 5th. Finally, Truist Financial decreased their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4,312.13.

AutoZone 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.