Raymond James Financial Services Advisors Inc. Increases Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Raymond James Financial Services Advisors Inc. lifted its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,314 shares of the company's stock after purchasing an additional 1,647 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.10% of AutoZone worth $54,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Valeo Financial Advisors LLC acquired a new position in AutoZone in the third quarter valued at about $216,000. Atlantic Union Bankshares Corp lifted its position in AutoZone by 24.7% in the third quarter. Atlantic Union Bankshares Corp now owns 560 shares of the company's stock valued at $1,422,000 after buying an additional 111 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in AutoZone by 32.0% in the third quarter. Commonwealth Equity Services LLC now owns 2,454 shares of the company's stock valued at $6,234,000 after buying an additional 595 shares during the last quarter. RMR Wealth Builders acquired a new position in AutoZone in the third quarter valued at about $234,000. Finally, Toews Corp ADV acquired a new position in AutoZone in the third quarter valued at about $762,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Stock Performance

AZO stock traded up $15.28 during trading on Thursday, hitting $2,962.09. The stock had a trading volume of 88,298 shares, compared to its average volume of 152,800. The company's 50 day moving average price is $3,048.03 and its two-hundred day moving average price is $2,783.78. 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 $51.30 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72.

AutoZone (NYSE:AZO - Get Free Report) last announced its 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. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $24.64 EPS. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AZO has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 28th. Evercore ISI reduced their target price on shares of AutoZone from $3,400.00 to $3,346.00 and set an "outperform" rating on the stock in a report on Tuesday, April 16th. 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 on the stock. UBS Group increased their price target 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, Truist Financial increased their price target 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. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AutoZone has an average rating of "Moderate Buy" and a consensus target price of $3,086.61.

Insider Transactions at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of the business's 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 completion of the sale, the vice president now owns 2,921 shares in the company, valued at approximately $8,756,456.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Richard Craig Smith sold 3,000 shares of the business'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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of the business'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 value of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares in the company, valued at $48,992,208.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,990 shares of company stock worth $50,335,193. 2.50% of the stock is currently owned by company insiders.

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.

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