Resonant Capital Advisors LLC Decreases Holdings in AutoZone, Inc. (NYSE:AZO)

Resonant Capital Advisors LLC reduced its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 17.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,308 shares of the company's stock after selling 283 shares during the period. Resonant Capital Advisors LLC's holdings in AutoZone were worth $3,382,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Knights of Columbus Asset Advisors LLC lifted its stake in AutoZone by 17.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 1,701 shares of the company's stock worth $4,398,000 after purchasing an additional 255 shares during the last quarter. Lafayette Investments Inc. lifted its stake in AutoZone by 0.9% in the fourth quarter. Lafayette Investments Inc. now owns 3,263 shares of the company's stock worth $8,437,000 after purchasing an additional 30 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in AutoZone by 10.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 153 shares of the company's stock worth $396,000 after purchasing an additional 15 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in AutoZone by 0.9% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,655 shares of the company's stock worth $6,857,000 after purchasing an additional 24 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in AutoZone by 4.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,702 shares of the company's stock worth $4,401,000 after purchasing an additional 65 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AZO. Wedbush boosted their price target on shares of AutoZone from $2,950.00 to $3,400.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 28th. Morgan Stanley upped their price objective on shares of AutoZone from $2,900.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Wednesday, February 28th. Truist Financial upped their price objective on shares of AutoZone from $3,363.00 to $3,523.00 and gave the company a "buy" rating in a research note on Tuesday, April 2nd. UBS Group upped their price objective on shares of AutoZone from $3,100.00 to $3,425.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the company an "overweight" rating in a research note on Wednesday, February 28th. Five research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $3,086.61.

AutoZone Stock Up 0.4 %

NYSE:AZO traded up $12.38 during mid-day trading on Friday, hitting $2,985.55. 114,397 shares of the company traded hands, compared to its average volume of 155,400. AutoZone, Inc. has a one year low of $2,277.88 and a one year high of $3,256.37. The firm has a market cap of $51.71 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 1.46 and a beta of 0.70. The stock's fifty day moving average price is $3,005.06 and its 200-day moving average price is $2,757.38.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating analysts' consensus estimates of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The firm had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $4.32 billion. During the same period in the previous year, the firm earned $24.64 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts predict that AutoZone, Inc. will post 152.4 EPS for the current year.

Insider Activity

In other news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the transaction, the vice president now directly owns 2,921 shares of the company's stock, valued at approximately $8,756,456.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman William C. Rhodes III sold 6,700 shares of the company's stock in a transaction that occurred 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 sale, the chairman now directly owns 15,357 shares of the company's stock, valued at approximately $48,992,208.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the sale, the vice president now directly owns 2,921 shares in the company, valued at $8,756,456.96. The disclosure for this sale can be found here. Insiders have sold a total of 15,990 shares of company stock valued at $50,335,193 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

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.