Sound Income Strategies LLC grew its holdings in AutoZone, Inc. (NYSE:AZO – Get Rating) by 74.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 47 shares of the company’s stock after purchasing an additional 20 shares during the period. Sound Income Strategies LLC’s holdings in AutoZone were worth $116,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. RB Capital Management LLC acquired a new stake in shares of AutoZone in the 1st quarter valued at approximately $274,000. Fairfield Bush & CO. bought a new position in AutoZone in the 1st quarter valued at approximately $57,000. Roundview Capital LLC boosted its position in AutoZone by 8.1% in the first quarter. Roundview Capital LLC now owns 426 shares of the company’s stock valued at $871,000 after buying an additional 32 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in shares of AutoZone by 31.7% during the first quarter. Cetera Advisor Networks LLC now owns 237 shares of the company’s stock worth $485,000 after buying an additional 57 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of AutoZone by 24.4% during the first quarter. Sei Investments Co. now owns 12,966 shares of the company’s stock worth $26,331,000 after buying an additional 2,545 shares in the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on AZO shares. Bank of America downgraded AutoZone from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 14th. Raymond James lifted their price target on AutoZone from $2,600.00 to $2,650.00 and gave the company an “outperform” rating in a research note on Wednesday, March 1st. The Goldman Sachs Group upped their price objective on AutoZone from $2,563.00 to $2,899.00 and gave the company a “buy” rating in a research note on Wednesday, March 1st. MKM Partners lifted their target price on shares of AutoZone from $2,350.00 to $2,650.00 and gave the stock a “buy” rating in a research report on Wednesday, December 7th. Finally, Truist Financial boosted their target price on shares of AutoZone from $2,800.00 to $2,878.00 in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,652.76.
AutoZone Trading Down 2.0 %
AutoZone (NYSE:AZO – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $24.64 earnings per share for the quarter, topping analysts’ consensus estimates of $21.33 by $3.31. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the business earned $22.30 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts predict that AutoZone, Inc. will post 127.64 earnings per share for the current fiscal year.
Insider Transactions at AutoZone
In related news, VP Grant E. Mcgee sold 500 shares of AutoZone stock in a transaction on Thursday, December 22nd. The shares were sold at an average price of $2,400.00, for a total value of $1,200,000.00. Following the completion of the sale, the vice president now owns 244 shares of the company’s stock, valued at approximately $585,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other AutoZone news, VP Grant E. Mcgee sold 500 shares of the firm’s stock in a transaction on Thursday, December 22nd. The shares were sold at an average price of $2,400.00, for a total value of $1,200,000.00. Following the transaction, the vice president now directly owns 244 shares of the company’s stock, valued at $585,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William C. Rhodes III sold 29,511 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $2,427.27, for a total transaction of $71,631,164.97. Following the sale, the chief executive officer now directly owns 14,825 shares of the company’s stock, valued at $35,984,277.75. The disclosure for this sale can be found here. Insiders have sold 38,872 shares of company stock valued at $94,603,027 over the last ninety days. 2.59% of the stock is owned by company insiders.
AutoZone Company Profile
AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.
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