RWA Wealth Partners LLC Increases Stake in AutoZone, Inc. (NYSE:AZO)

RWA Wealth Partners LLC boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 17.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 597 shares of the company’s stock after buying an additional 88 shares during the quarter. RWA Wealth Partners LLC’s holdings in AutoZone were worth $1,912,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AZO. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at $32,000. Harbour Investments Inc. raised its position 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 purchasing an additional 3 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of AutoZone in the 4th quarter valued at about $61,000. McIlrath & Eck LLC grew its position in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of AutoZone during the fourth quarter worth approximately $67,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 136 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total value of $482,810.88. Following the completion of the sale, the senior vice president now owns 403 shares of the company’s stock, valued at approximately $1,430,682.24. This trade represents a 25.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the sale, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. The trade was a 92.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,721 shares of company stock worth $24,609,331 over the last 90 days. Company insiders own 2.10% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $3,821.72 on Tuesday. The business has a 50 day simple moving average of $3,495.81 and a 200-day simple moving average of $3,285.75. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,842.82. The stock has a market capitalization of $64.14 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on AZO. Roth Capital set a $3,763.00 price target on shares of AutoZone in a report on Wednesday, March 5th. Raymond James reissued a “strong-buy” rating on shares of AutoZone in a report on Wednesday, March 5th. Argus downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. BMO Capital Markets increased their price objective on AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley boosted their target price on AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $3,683.36.

About AutoZone

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.