RWA Wealth Partners LLC Sells 81 Shares of AutoZone, Inc. $AZO

Key Points

• RWA Wealth Partners LLC has reduced its stake in AutoZone by 13.6%, selling 81 shares and holding 516 shares valued at approximately $1.97 million.
• Recent analyst upgrades have led to a higher price target for AutoZone, with DA Davidson raising it from $4,192.00 to $4,850.00 and several analysts maintaining a "strong-buy" rating.
• Insider selling activity is notable, with VP Richard Craig Smith and CFO Jamere Jackson selling thousands of shares, resulting in significant decreases in their positions.

RWA Wealth Partners LLC decreased its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 13.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 516 shares of the company's stock after selling 81 shares during the quarter. RWA Wealth Partners LLC's holdings in AutoZone were worth $1,967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP raised its position in shares of AutoZone by 2.2% in the 4th quarter. Forum Financial Management LP now owns 138 shares of the company's stock valued at $443,000 after buying an additional 3 shares in the last quarter. Focus Financial Network Inc. raised its position in shares of AutoZone by 2.9% in the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after buying an additional 3 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of AutoZone by 2.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after buying an additional 3 shares in the last quarter. Rappaport Reiches Capital Management LLC raised its position in shares of AutoZone by 4.8% in the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after buying an additional 3 shares in the last quarter. Finally, Blue Trust Inc. raised its position 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 buying an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the sale, the chief financial officer directly owned 427 shares of the company's stock, valued at $1,591,877.35. The trade was a 85.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,862 shares of company stock valued at $126,058,789. 2.10% of the stock is owned by insiders.

AutoZone Price Performance

AZO stock traded down $23.34 during trading on Friday, reaching $4,104.35. 119,356 shares of the company were exchanged, compared to its average volume of 110,413. The company has a 50-day moving average of $3,809.57 and a two-hundred day moving average of $3,690.97. The company has a market capitalization of $68.88 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 2.46 and a beta of 0.38. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,187.39.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%.The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the prior year, the company earned $36.69 earnings per share. AutoZone's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on AZO shares. Guggenheim boosted their target price on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. BMO Capital Markets restated an "outperform" rating and issued a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Truist Financial set a $3,995.00 target price on shares of AutoZone in a research report on Friday, May 23rd. The Goldman Sachs Group set a $3,811.00 price objective on shares of AutoZone in a research report on Friday, May 23rd. Finally, Roth Capital set a $4,135.00 price objective on shares of AutoZone and gave the stock a "buy" rating in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $4,101.29.

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.