AutoZone, Inc. (NYSE:AZO) Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC raised its position in AutoZone, Inc. (NYSE:AZO) by 14.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 117 shares of the company’s stock after purchasing an additional 15 shares during the period. Modern Wealth Management LLC’s holdings in AutoZone were worth $401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pittenger & Anderson Inc. lifted its stake in shares of AutoZone by 5.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock worth $195,000 after buying an additional 3 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its stake in AutoZone by 2.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company’s stock worth $487,000 after purchasing an additional 3 shares in the last quarter. PDS Planning Inc boosted its holdings in shares of AutoZone by 2.3% during the 4th quarter. PDS Planning Inc now owns 132 shares of the company’s stock worth $423,000 after purchasing an additional 3 shares during the last quarter. Harbour Investments Inc. grew its position in shares of AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after purchasing an additional 3 shares in the last quarter. Finally, McIlrath & Eck LLC increased 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 last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

AZO has been the subject of several analyst reports. Roth Capital set a $3,763.00 target price on AutoZone in a report on Wednesday, March 5th. Citigroup upped their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Argus downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. boosted their target price on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Guggenheim raised their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3,683.36.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,825.31 on Friday. The firm has a market capitalization of $64.20 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,860.85. The firm’s 50-day moving average is $3,472.82 and its two-hundred day moving average is $3,273.98.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Activity

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the sale, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $177,500. This represents a 76.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP K. Michelle Borninkhof sold 136 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the sale, the senior vice president now owns 403 shares in the company, valued at $1,430,682.24. The trade was a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,721 shares of company stock worth $17,009,311. Corporate insiders own 2.10% 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.