AutoZone, Inc. (NYSE:AZO) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 27.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,100 shares of the company's stock after purchasing an additional 3,636 shares during the period. Wedge Capital Management L L P NC owned 0.10% of AutoZone worth $44,214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rock Creek Group LP bought a new position in shares of AutoZone during the third quarter valued at $25,000. ORG Partners LLC acquired a new position in shares of AutoZone during the 3rd quarter worth about $43,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of AutoZone during the 3rd quarter worth about $51,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AutoZone during the 4th quarter worth about $54,000. Finally, Steward Financial Group LLC lifted its holdings in shares of AutoZone by 66.7% during the 3rd quarter. Steward Financial Group LLC now owns 25 shares of the company's stock valued at $63,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the company's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the transaction, the vice president now owns 2,921 shares in the company, valued at $8,756,456.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,990 shares of company stock worth $50,335,193. 2.50% of the stock is owned by company insiders.

AutoZone Stock Down 0.7 %

AZO stock traded down $22.27 during midday trading on Monday, hitting $2,963.27. The company's stock had a trading volume of 167,565 shares, compared to its average volume of 155,557. The stock's 50-day moving average price is $3,010.24 and its 200 day moving average price is $2,764.30. AutoZone, Inc. has a 1 year low of $2,277.88 and a 1 year high of $3,256.37. The stock has a market cap of $51.32 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.48 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 EPS 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 quarter in the prior year, the firm earned $24.64 EPS. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts forecast that AutoZone, Inc. will post 152.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AZO. Truist Financial lifted their price objective on AutoZone from $3,363.00 to $3,523.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 28th. UBS Group upped their price objective on AutoZone from $3,100.00 to $3,425.00 and gave the stock a "buy" rating in a research note on Wednesday, February 28th. Barclays boosted their target price on AutoZone from $2,779.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Finally, DA Davidson boosted their target price on AutoZone from $2,770.00 to $3,025.00 and gave the stock a "neutral" rating in a report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $3,086.61.

AutoZone Company 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.