Quest Partners LLC Takes Position in AutoZone, Inc. (NYSE:AZO)

Quest Partners LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 397 shares of the company's stock, valued at approximately $1,026,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AZO. Corient Private Wealth LLC increased its position in AutoZone by 9.0% during the 4th quarter. Corient Private Wealth LLC now owns 21,360 shares of the company's stock worth $55,248,000 after purchasing an additional 1,764 shares during the period. D.A. Davidson & CO. raised its position in AutoZone by 27.3% during the fourth quarter. D.A. Davidson & CO. now owns 807 shares of the company's stock worth $2,087,000 after acquiring an additional 173 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of AutoZone by 3.0% during the 4th quarter. Clearbridge Investments LLC now owns 6,179 shares of the company's stock worth $15,976,000 after purchasing an additional 179 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in AutoZone by 114.4% during the fourth quarter. Thoroughbred Financial Services LLC now owns 669 shares of the company's stock worth $1,729,000 after buying an additional 357 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in shares of AutoZone by 14.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 437 shares of the company's stock worth $1,130,000 after buying an additional 55 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on AZO. DA Davidson upped their price objective on shares of AutoZone from $2,770.00 to $3,025.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Truist Financial increased their price objective on shares of AutoZone from $3,363.00 to $3,523.00 and gave the stock a "buy" rating in a research report on Tuesday, April 2nd. Citigroup lowered their price objective on shares of AutoZone from $3,505.00 to $3,420.00 and set a "buy" rating for the company in a research report on Tuesday, May 7th. Wedbush restated an "outperform" rating and set a $3,400.00 price objective on shares of AutoZone in a research note on Wednesday, May 15th. Finally, UBS Group lifted their price objective on AutoZone from $3,100.00 to $3,425.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $3,115.24.

AutoZone Stock Down 3.3 %

NYSE:AZO traded down $96.39 during mid-day trading on Tuesday, reaching $2,827.65. 292,975 shares of the company were exchanged, compared to its average volume of 154,077. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,256.37. The stock has a market cap of $48.97 billion, a PE ratio of 20.59, a PEG ratio of 1.45 and a beta of 0.72. The company has a fifty day moving average of $3,033.75 and a 200 day moving average of $2,825.39.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping the consensus estimate of $35.75 by $0.94. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $34.12 EPS. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman William C. Rhodes III sold 6,700 shares of the business's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the sale, the chairman now owns 15,357 shares of the company's stock, valued at $48,992,208.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Chairman William C. Rhodes III sold 6,700 shares of the firm'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 completion of the sale, the chairman now directly owns 15,357 shares of the company's stock, valued at $48,992,208.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $8,993,280.00. Following the completion of the transaction, 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 sold a total of 15,990 shares of company stock valued at $50,335,193 in the last quarter. 2.50% of the stock is currently owned by insiders.

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.