Asset Advisors Investment Management LLC Buys 323 Shares of AutoZone, Inc. $AZO

Key Points

• Asset Advisors Investment Management LLC increased its stake in AutoZone by 13.6% in Q4, buying 323 shares to hold 2,699 shares valued at about $9.15 million.
• VP Richard Craig Smith sold 5,910 shares on Jan. 23 for roughly $21.87 million, cutting his ownership by 69.23% (insiders now own 2.60% of the company).
• AutoZone beat Q4 EPS estimates ($27.63 vs. $27.59) but missed revenue forecasts ($4.27B vs. $4.31B); the stock has a ~$56.4B market cap and a consensus rating of Moderate Buy with an average target of $4,312.13.

Asset Advisors Investment Management LLC boosted its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,699 shares of the company's stock after purchasing an additional 323 shares during the quarter. Asset Advisors Investment Management LLC's holdings in AutoZone were worth $9,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. KG&L Capital Management LLC boosted its position in shares of AutoZone by 6.3% during the 4th quarter. KG&L Capital Management LLC now owns 353 shares of the company's stock valued at $1,197,000 after acquiring an additional 21 shares during the last quarter. SFM LLC boosted its position in shares of AutoZone by 6.2% during the 4th quarter. SFM LLC now owns 327 shares of the company's stock valued at $1,109,000 after acquiring an additional 19 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of AutoZone by 0.3% during the 4th quarter. Ritholtz Wealth Management now owns 1,202 shares of the company's stock valued at $4,077,000 after acquiring an additional 4 shares during the last quarter. Carnegie Investment Counsel boosted its position in shares of AutoZone by 6.9% during the 4th quarter. Carnegie Investment Counsel now owns 1,363 shares of the company's stock valued at $4,623,000 after acquiring an additional 88 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of AutoZone by 3.4% during the 4th quarter. Venturi Wealth Management LLC now owns 240 shares of the company's stock valued at $814,000 after acquiring an additional 8 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

NYSE:AZO opened at $3,424.40 on Monday. The business has a 50 day moving average of $3,588.90 and a 200 day moving average of $3,684.77. The company has a market capitalization of $56.43 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 1.75 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts' consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the company posted $28.29 EPS. AutoZone's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the business's stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of AutoZone in a research report on Monday, December 29th. UBS Group set a $4,800.00 price target on AutoZone in a research report on Tuesday, March 3rd. Barclays lifted their price target on AutoZone from $3,800.00 to $3,900.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. Argus upgraded AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 price target for the company in a research report on Monday, March 9th. Finally, JPMorgan Chase & Co. boosted their target price on AutoZone from $4,100.00 to $4,300.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $4,312.13.

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.

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