Belpointe Asset Management LLC Reduces Holdings in AutoZone, Inc. (NYSE:AZO)

Belpointe Asset Management LLC cut its holdings in AutoZone, Inc. (NYSE:AZO) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100 shares of the company’s stock after selling 4 shares during the quarter. Belpointe Asset Management LLC’s holdings in AutoZone were worth $318,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of AutoZone in the fourth quarter worth $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone during the 4th quarter worth about $32,000. Harbour Investments Inc. boosted its position in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after acquiring an additional 3 shares during the last quarter. Crews Bank & Trust acquired a new position in AutoZone in the 4th quarter valued at $61,000. Finally, McIlrath & Eck LLC lifted its stake in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In other AutoZone news, CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the completion of the sale, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. This represents a 92.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $177,500. The trade was a 76.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,721 shares of company stock valued at $24,609,331 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on AZO shares. Barclays increased their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Wedbush reissued an “outperform” rating and issued a $3,700.00 price objective on shares of AutoZone in a research report on Wednesday, March 5th. Mizuho raised their target price on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Roth Mkm upped their target price on AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $3,724.00.

AutoZone Stock Performance

Shares of AZO stock opened at $3,574.54 on Thursday. The firm has a market capitalization of $59.99 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,916.81. The stock has a fifty day moving average of $3,567.00 and a two-hundred day moving average of $3,333.97.

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