AutoZone, Inc. $AZO Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,348 shares of the company’s stock after selling 218 shares during the quarter. AutoZone makes up 1.2% of NewEdge Wealth LLC’s portfolio, making the stock its 11th biggest position. NewEdge Wealth LLC’s holdings in AutoZone were worth $87,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of AZO. Vanguard Group Inc. grew its stake in AutoZone by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock worth $7,711,912,000 after purchasing an additional 26,544 shares in the last quarter. Laurel Wealth Advisors LLC lifted its holdings in AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after buying an additional 935,230 shares during the last quarter. State Street Corp lifted its holdings in AutoZone by 1.6% during the 2nd quarter. State Street Corp now owns 714,091 shares of the company’s stock worth $2,650,870,000 after buying an additional 11,088 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AutoZone by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock worth $1,649,228,000 after acquiring an additional 8,187 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of AutoZone in the 2nd quarter valued at approximately $981,202,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.1%

AutoZone stock opened at $3,746.84 on Thursday. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The firm has a market capitalization of $62.09 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.78 and a beta of 0.41. The firm has a 50-day moving average price of $3,551.57 and a two-hundred day moving average price of $3,844.64.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $32.52 EPS. Research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on AZO. Morgan Stanley reduced their price objective on AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Mizuho restated a “neutral” rating and issued a $3,550.00 price target (down from $3,850.00) on shares of AutoZone in a research report on Monday, January 5th. Guggenheim decreased their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Barclays set a $3,880.00 price objective on shares of AutoZone in a research note on Thursday, January 8th. Finally, Robert W. Baird downgraded AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price for the company. in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4,271.25.

Insider Activity

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction on 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 completion of the transaction, the director owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael A. George purchased 145 shares of the stock in a transaction dated Monday, December 22nd. The shares were acquired at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the acquisition, the director directly owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Insiders own 2.60% of the company’s stock.

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.