Terra Nova Asset Management LLC Lowers Holdings in AutoZone, Inc. (NYSE:AZO)

Terra Nova Asset Management LLC decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,083 shares of the company’s stock after selling 11 shares during the period. AutoZone makes up 2.5% of Terra Nova Asset Management LLC’s holdings, making the stock its 10th biggest position. Terra Nova Asset Management LLC’s holdings in AutoZone were worth $2,800,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AZO. RB Capital Management LLC bought a new position in shares of AutoZone in the first quarter worth $274,000. Fairfield Bush & CO. acquired a new stake in shares of AutoZone during the first quarter valued at about $57,000. Roundview Capital LLC boosted its stake in shares of AutoZone by 8.1% during the first quarter. Roundview Capital LLC now owns 426 shares of the company’s stock valued at $871,000 after purchasing an additional 32 shares in the last quarter. Cetera Advisor Networks LLC boosted 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 valued at $485,000 after purchasing an additional 57 shares in the last quarter. Finally, Sei Investments Co. raised its position 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 acquiring an additional 2,545 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the sale, the chairman now owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the transaction, the chairman now owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Grant E. Mcgee sold 693 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $2,654.14, for a total transaction of $1,839,319.02. Following the completion of the transaction, the vice president now directly owns 251 shares in the company, valued at approximately $666,189.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,797 shares of company stock valued at $81,010,974. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AZO. Stephens raised their price objective on AutoZone from $3,000.00 to $3,070.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 6th. Mizuho assumed coverage on AutoZone in a report on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 target price for the company. Evercore ISI lifted their target price on AutoZone from $3,375.00 to $3,400.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James upgraded AutoZone from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $2,850.00 to $3,100.00 in a report on Wednesday, December 6th. Finally, Truist Financial lifted their target price on AutoZone from $3,027.00 to $3,363.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,080.72.

AutoZone Trading Down 1.3 %

Shares of AZO stock opened at $3,152.07 on Friday. The firm’s 50 day moving average is $2,912.84 and its 200 day moving average is $2,699.29. The stock has a market capitalization of $54.53 billion, a P/E ratio of 22.19, a PEG ratio of 1.69 and a beta of 0.70. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. AutoZone’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $24.64 EPS. On average, equities analysts predict that AutoZone, Inc. will post 151.33 EPS for the current year.

AutoZone Company 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.