Burling Wealth Partners LLC Invests $381,000 in AutoZone, Inc. (NYSE:AZO)

Burling Wealth Partners LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 100 shares of the company's stock, valued at approximately $381,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of AutoZone by 3.5% in the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after purchasing an additional 3 shares during the last quarter. Colonial Trust Co SC boosted its holdings in AutoZone by 24.5% in the fourth quarter. Colonial Trust Co SC now owns 61 shares of the company's stock valued at $197,000 after acquiring an additional 12 shares during the last quarter. Comerica Bank grew its position in AutoZone by 5.4% during the fourth quarter. Comerica Bank now owns 4,262 shares of the company's stock valued at $13,647,000 after acquiring an additional 217 shares during the period. Barclays PLC increased its stake in AutoZone by 82.6% during the fourth quarter. Barclays PLC now owns 170,216 shares of the company's stock worth $545,033,000 after acquiring an additional 77,015 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of AutoZone by 13.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 66,016 shares of the company's stock worth $211,383,000 after purchasing an additional 7,586 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the sale, the chief financial officer directly owned 427 shares in the company, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Domingo Hurtado sold 4,800 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the completion of the transaction, the vice president owned 159 shares of the company's stock, valued at approximately $581,940. This trade represents a 96.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,662 shares of company stock valued at $131,999,089 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research reports. Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the stock an "overweight" rating in a report on Monday, May 19th. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Oppenheimer raised shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 target price on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Roth Capital set a $4,135.00 target price on AutoZone and gave the stock a "buy" rating in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $4,087.00.

AutoZone Trading Down 0.9%

AZO stock opened at $3,648.87 on Friday. The stock's 50 day simple moving average is $3,701.06 and its 200 day simple moving average is $3,573.70. AutoZone, Inc. has a 12-month low of $2,894.02 and a 12-month high of $3,916.81. The firm has a market cap of $61.23 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.20 and a beta of 0.39.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results 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). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the firm earned $36.69 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.

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