Global Retirement Partners LLC Purchases 324 Shares of AutoZone, Inc. $AZO

Key Points

• Global Retirement Partners LLC boosted its AutoZone stake by 498.5% in the fourth quarter, adding 324 shares to bring its total to 389 shares worth about $1.319 million.
• AutoZone reported quarterly EPS of $27.63, slightly topping analyst expectations, while revenue came in at $4.27 billion, below estimates but up 8.2% year over year.
• Analysts remain broadly positive on the stock, with an average rating of “Moderate Buy” and an average price target of about $4,290.91, though one firm recently downgraded it to neutral.

Global Retirement Partners LLC raised its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 498.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 389 shares of the company's stock after acquiring an additional 324 shares during the quarter. Global Retirement Partners LLC's holdings in AutoZone were worth $1,319,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SYM FINANCIAL Corp lifted its holdings in shares of AutoZone by 3.6% during the third quarter. SYM FINANCIAL Corp now owns 86 shares of the company's stock valued at $369,000 after acquiring an additional 3 shares during the period. Camden National Bank lifted its holdings in shares of AutoZone by 3.6% during the third quarter. Camden National Bank now owns 86 shares of the company's stock valued at $369,000 after acquiring an additional 3 shares during the period. Crestwood Advisors Group LLC lifted its holdings in shares of AutoZone by 1.7% during the third quarter. Crestwood Advisors Group LLC now owns 184 shares of the company's stock valued at $791,000 after acquiring an additional 3 shares during the period. Assetmark Inc. lifted its holdings in shares of AutoZone by 1.4% during the third quarter. Assetmark Inc. now owns 212 shares of the company's stock valued at $908,000 after acquiring an additional 3 shares during the period. Finally, Bridgewater Advisors Inc. lifted its holdings in shares of AutoZone by 1.3% during the third quarter. Bridgewater Advisors Inc. now owns 229 shares of the company's stock valued at $982,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,401.96 on Monday. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The firm has a market cap of $56.06 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43. The business has a fifty day moving average of $3,461.57 and a 200-day moving average of $3,585.57.

AutoZone (NYSE:AZO - Get Free Report) last announced 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 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 analyst estimates of $4.31 billion. During the same period last year, the company posted $28.29 earnings per share. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that AutoZone, Inc. will post 149.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. DA Davidson set a $4,300.00 price objective on AutoZone in a report on Thursday, March 5th. Robert W. Baird cut AutoZone from an "outperform" rating to a "neutral" rating and set a $3,900.00 price objective for the company. in a report on Monday, February 9th. Roth Mkm cut their price objective on AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Morgan Stanley lifted their price objective on AutoZone from $4,000.00 to $4,020.00 and gave the company an "overweight" rating in a report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. lifted their price objective on AutoZone from $4,100.00 to $4,300.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $4,290.91.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the firm's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.60% of the company's stock.

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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