NewEdge Wealth LLC Boosts Stake in AutoZone, Inc. (NYSE:AZO)

NewEdge Wealth LLC raised its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,188 shares of the company's stock after acquiring an additional 2,290 shares during the period. AutoZone makes up 1.1% of NewEdge Wealth LLC's investment portfolio, making the stock its 14th largest position. NewEdge Wealth LLC owned about 0.10% of AutoZone worth $44,441,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AZO. LGT Capital Partners LTD. lifted its position in AutoZone by 32.2% during the fourth quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company's stock valued at $70,458,000 after purchasing an additional 6,630 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of AutoZone by 42,900.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 430 shares of the company's stock worth $1,112,000 after acquiring an additional 429 shares during the last quarter. Compound Global Advisors LLC grew its position in AutoZone by 23.1% in the fourth quarter. Compound Global Advisors LLC now owns 4,991 shares of the company's stock worth $12,905,000 after acquiring an additional 938 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in AutoZone in the third quarter valued at $51,000. Finally, Pacer Advisors Inc. raised its position in AutoZone by 77.1% during the fourth quarter. Pacer Advisors Inc. now owns 2,562 shares of the company's stock valued at $6,624,000 after purchasing an additional 1,115 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

AutoZone Trading Down 1.5 %

AutoZone stock traded down $44.44 during trading hours on Friday, hitting $2,962.32. 146,960 shares of the stock traded hands, compared to its average volume of 156,290. AutoZone, Inc. has a one year low of $2,277.88 and a one year high of $3,256.37. The firm's 50-day moving average price is $2,985.55 and its two-hundred day moving average price is $2,740.95. The company has a market cap of $51.30 billion, a PE ratio of 21.01, a PEG ratio of 1.60 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating the consensus estimate of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the company posted $24.64 earnings per share. The firm's revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts expect that AutoZone, Inc. will post 151.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AZO. DA Davidson upped their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the stock a "neutral" rating in a report on Wednesday, February 28th. Wedbush increased their price target on shares of AutoZone from $2,950.00 to $3,400.00 and gave the company an "outperform" rating in a research report on Wednesday, February 28th. Evercore ISI boosted their price objective on shares of AutoZone from $3,375.00 to $3,400.00 and gave the stock an "outperform" rating in a report on Tuesday, March 26th. Truist Financial increased their target price on shares of AutoZone from $3,363.00 to $3,523.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. Finally, Mizuho initiated coverage on shares of AutoZone in a research note on Tuesday, March 19th. They issued a "buy" rating and a $3,450.00 price target for the company. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AutoZone currently has a consensus rating of "Moderate Buy" and a consensus price target of $3,089.61.

Insider Activity at AutoZone

In related news, VP Grant E. Mcgee sold 693 shares of the business's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $2,654.14, for a total transaction of $1,839,319.02. Following the sale, the vice president now owns 251 shares of the company's stock, valued at $666,189.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman William C. Rhodes III sold 6,700 shares of the firm's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the transaction, the chairman now directly owns 15,357 shares in the company, valued at $48,992,208.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Grant E. Mcgee sold 693 shares of the company's stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $2,654.14, for a total transaction of $1,839,319.02. Following the completion of the transaction, the vice president now owns 251 shares in the company, valued at approximately $666,189.14. The disclosure for this sale can be found here. Insiders sold a total of 19,583 shares of company stock valued at $60,056,012 in the last three months. Company insiders own 2.50% of the company's stock.

About AutoZone

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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