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

Key Points

• NewEdge Wealth LLC increased its AutoZone stake by 6.3% in the fourth quarter, adding 1,289 shares to reach 21,637 shares valued at about $73.4 million.
• AutoZone director Earl G. Graves, Jr. sold 50 shares in April, a small transaction that left him with 4,837 shares after the sale.
• The company recently beat EPS expectations but missed revenue estimates, while analysts remain broadly bullish with a Moderate Buy consensus and an average price target of $4,312.13.

NewEdge Wealth LLC boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,637 shares of the company's stock after acquiring an additional 1,289 shares during the period. AutoZone accounts for approximately 0.8% of NewEdge Wealth LLC's investment portfolio, making the stock its 22nd biggest position. NewEdge Wealth LLC owned about 0.13% of AutoZone worth $73,383,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AZO. Obermeyer Wealth Partners increased its holdings in shares of AutoZone by 4.7% in the third quarter. Obermeyer Wealth Partners now owns 67 shares of the company's stock valued at $287,000 after purchasing an additional 3 shares during the last quarter. Covestor Ltd boosted its stake in AutoZone by 5.5% during the third quarter. Covestor Ltd now owns 58 shares of the company's stock worth $250,000 after buying an additional 3 shares during the last quarter. SYM FINANCIAL Corp grew its holdings in AutoZone by 3.6% in the 3rd quarter. SYM FINANCIAL Corp now owns 86 shares of the company's stock valued at $369,000 after buying an additional 3 shares in the last quarter. Camden National Bank grew its holdings in AutoZone by 3.6% in the 3rd quarter. Camden National Bank now owns 86 shares of the company's stock valued at $369,000 after buying an additional 3 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in shares of AutoZone by 1.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 184 shares of the company's stock worth $791,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

AutoZone Price Performance

Shares of AZO stock opened at $3,497.52 on Friday. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The firm has a market cap of $57.64 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.79 and a beta of 0.43. The company has a 50-day moving average of $3,530.25 and a two-hundred day moving average of $3,617.57.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $27.59 by $0.04. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business's revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $28.29 EPS. Sell-side analysts anticipate that AutoZone, Inc. will post 148.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AZO. Roth Mkm lowered 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 research report on Wednesday, March 4th. The Goldman Sachs Group lifted their target price on shares of AutoZone from $4,274.00 to $4,345.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. BMO Capital Markets decreased their target price on shares of AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating on the stock in a report on Wednesday, March 4th. Citigroup increased their price target on shares of AutoZone from $4,200.00 to $4,300.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. Finally, Truist Financial cut their price target on shares of AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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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