SevenBridge Financial Group LLC Grows Position in AutoZone, Inc. $AZO

SevenBridge Financial Group LLC grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 41.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 955 shares of the company’s stock after purchasing an additional 282 shares during the quarter. SevenBridge Financial Group LLC’s holdings in AutoZone were worth $4,097,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its holdings in AutoZone by 8.3% during the 2nd quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after acquiring an additional 210 shares during the period. Braun Stacey Associates Inc. boosted its holdings in shares of AutoZone by 7.8% in the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock worth $36,145,000 after acquiring an additional 613 shares during the period. Summit Global Investments boosted its holdings in shares of AutoZone by 132.8% in the third quarter. Summit Global Investments now owns 319 shares of the company’s stock worth $1,369,000 after acquiring an additional 182 shares during the period. Foundations Investment Advisors LLC purchased a new position in shares of AutoZone in the third quarter valued at $678,000. Finally, Exchange Traded Concepts LLC grew its position in shares of AutoZone by 68.2% in the third quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock valued at $6,251,000 after purchasing an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays increased their price objective on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Wolfe Research cut AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. BNP Paribas Exane lowered their price target on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. TD Cowen restated a “buy” rating on shares of AutoZone in a research report on Monday, February 23rd. Finally, BMO Capital Markets reduced their price objective on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” 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 assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4,318.38.

AutoZone Stock Down 0.3%

AutoZone stock opened at $3,715.03 on Thursday. The stock has a market cap of $61.55 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.91 and a beta of 0.41. The business has a 50-day simple moving average of $3,640.15 and a 200 day simple moving average of $3,810.37. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating the consensus estimate of $27.59 by $0.04. The firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $28.29 EPS. On average, research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian Hannasch bought 147 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were bought at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the transaction, the director owned 962 shares of the company’s stock, valued at $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 9,447 shares of company stock valued at $34,179,923 in the last 90 days. 2.60% of the stock is owned by company insiders.

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.