AutoZone, Inc. $AZO Shares Purchased by SevenBridge Financial Group LLC

Key Points

• During the 3rd quarter SevenBridge Financial Group raised its AutoZone stake by 41.9% to 955 shares (a $4.10M position), and institutional investors now hold about 92.74% of the stock.
• Insider activity was mixed: Director Michael A. George bought 145 shares at $3,398.13 while VP Richard Craig Smith sold 5,910 shares for $21.87M, with insiders net selling 9,447 shares (~$34.18M) in the last quarter and owning just 2.60% of the company.
• Wall Street consensus is a Moderate Buy with an average price target of $4,318.38; most analysts rate AZO a Buy (21 Buy, 6 Hold, 1 Strong Buy) and several firms recently raised price targets.

SevenBridge Financial Group LLC boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 41.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 955 shares of the company's stock after purchasing an additional 282 shares during the period. SevenBridge Financial Group LLC's holdings in AutoZone were worth $4,097,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. purchased a new stake in shares of AutoZone in the third quarter valued at about $26,000. Global Trust Asset Management LLC grew its holdings in shares of AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock worth $30,000 after buying an additional 6 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in AutoZone in the 3rd quarter valued at about $34,000. Loomis Sayles & Co. L P acquired a new position in AutoZone in the 2nd quarter valued at about $33,000. Finally, AlphaCore Capital LLC raised its stake in AutoZone by 42.9% during the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company's stock valued at $37,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael A. George purchased 145 shares of the company's stock in a transaction dated Monday, December 22nd. The shares were purchased at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the transaction, the director directly owned 566 shares of the company's stock, valued at approximately $1,923,341.58. This represents a 34.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 5,910 shares of the company's stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the transaction, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,447 shares of company stock valued at $34,179,923 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZO. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of AutoZone in a research report on Monday, December 29th. Morgan Stanley upped their price target on AutoZone from $4,000.00 to $4,020.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. Mizuho lifted their price objective on shares of AutoZone from $3,550.00 to $3,600.00 and gave the company a "neutral" rating in a research report on Thursday, March 5th. Guggenheim dropped their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a "buy" rating on the stock in a research note on Wednesday, December 10th. Finally, Evercore upped their price objective on shares of AutoZone from $4,100.00 to $4,125.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $4,318.38.

AutoZone Stock Performance

Shares of AZO stock opened at $3,715.03 on Thursday. The firm has a market cap of $61.55 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 1.91 and a beta of 0.41. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The firm's 50-day simple moving average is $3,640.15 and its two-hundred day simple moving average is $3,810.37.

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, beating analysts' consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the firm earned $28.29 EPS. The company's revenue was up 8.2% compared to the same quarter last year. Analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone Company 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.

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