Optivise Advisory Services LLC Acquires Shares of 70 AutoZone, Inc. (NYSE:AZO)

Optivise Advisory Services LLC purchased a new position in AutoZone, Inc. (NYSE:AZO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 70 shares of the company's stock, valued at approximately $223,000.

Several other hedge funds have also recently added to or reduced their stakes in AZO. Headlands Technologies LLC acquired a new position in AutoZone during the fourth quarter worth about $29,000. Flagship Wealth Advisors LLC acquired a new position in AutoZone during the fourth quarter worth $32,000. Harbour Investments Inc. grew its holdings in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after buying an additional 3 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of AutoZone during the 4th quarter valued at about $61,000. Finally, McIlrath & Eck LLC grew its holdings in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after purchasing an additional 4 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AutoZone

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the transaction, the senior vice president now directly owns 50 shares of the company's stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Richard Craig Smith sold 2,850 shares of AutoZone stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the completion of the transaction, the vice president now owns 2,924 shares in the company, valued at approximately $10,555,640. This represents a 49.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,521 shares of company stock worth $42,177,331. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AZO shares. Truist Financial raised their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Guggenheim lifted their target price on AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Evercore ISI raised their price objective on AutoZone from $3,525.00 to $3,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. BMO Capital Markets lifted their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AutoZone has an average rating of "Moderate Buy" and an average target price of $3,724.00.

AutoZone Price Performance

Shares of AutoZone stock traded down $3.61 during trading hours on Friday, hitting $3,606.04. The company had a trading volume of 103,827 shares, compared to its average volume of 132,022. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,916.81. The company has a market cap of $60.52 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. The company's 50-day moving average is $3,591.32 and its two-hundred day moving average is $3,359.12.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

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.