Allworth Financial LP Acquires 223 Shares of AutoZone, Inc. $AZO

Allworth Financial LP grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 125.3% during the third quarter, Holdings Channel reports. The institutional investor owned 401 shares of the company’s stock after purchasing an additional 223 shares during the quarter. Allworth Financial LP’s holdings in AutoZone were worth $1,718,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Turning Point Benefit Group Inc. bought a new stake in AutoZone in the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. purchased a new position in shares of AutoZone in the third quarter worth $26,000. Global Trust Asset Management LLC raised its holdings in AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after buying an additional 6 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in AutoZone during the 2nd quarter valued at $33,000. Finally, Salomon & Ludwin LLC purchased a new stake in AutoZone during the 3rd quarter valued at $34,000. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction 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 trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the transaction, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,447 shares of company stock valued at $34,179,923 in the last three months. Company insiders own 2.60% of the company’s stock.

AutoZone Trading Down 1.6%

AZO opened at $3,287.09 on Monday. The company has a market cap of $54.47 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 1.68 and a beta of 0.41. The stock has a fifty day simple moving average of $3,656.84 and a two-hundred day simple moving average of $3,771.00. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 12.47% and a negative return on equity of 72.31%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $28.29 EPS. On average, analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Roth Mkm cut their price target on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. BNP Paribas Exane dropped their target price on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Wells Fargo & Company cut their target price on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. The Goldman Sachs Group boosted their price target on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, Raymond James Financial dropped their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price 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.