Everpar Advisors LLC Buys Shares of 69 AutoZone, Inc. (NYSE:AZO)

Everpar Advisors LLC acquired a new position in AutoZone, Inc. (NYSE:AZO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 69 shares of the company's stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after purchasing an additional 770,005 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after buying an additional 419,375 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in AutoZone by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company's stock valued at $1,039,421,000 after buying an additional 17,518 shares during the period. Norges Bank bought a new stake in AutoZone during the fourth quarter valued at $834,556,000. Finally, PineStone Asset Management Inc. grew its holdings in AutoZone by 6.9% during the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company's stock worth $683,867,000 after acquiring an additional 13,771 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AZO shares. Oppenheimer raised AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price objective on the stock in a research note on Friday, May 2nd. Argus lowered AutoZone from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Morgan Stanley restated an "overweight" rating and set a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, Truist Financial set a $3,995.00 target price on shares of AutoZone in a research report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $4,072.24.

AutoZone Stock Performance

AZO traded up $2.58 during mid-day trading on Wednesday, reaching $3,607.23. 75,187 shares of the stock were exchanged, compared to its average volume of 128,685. AutoZone, Inc. has a 1 year low of $2,801.49 and a 1 year high of $3,916.81. The stock has a market capitalization of $60.53 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.15 and a beta of 0.40. The company has a 50 day moving average price of $3,698.61 and a two-hundred day moving average price of $3,515.00.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). The business had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $36.69 EPS. Sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Activity

In related news, Chairman William C. Rhodes III sold 27,500 shares of AutoZone stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the completion of the sale, the chairman now owns 8,546 shares of the company's stock, valued at approximately $31,696,515.78. This trade represents a 76.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the completion of the sale, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. This represents a 92.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,762 shares of company stock valued at $147,189,762 in the last three months. Company insiders own 2.10% of the company's stock.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.