International Assets Investment Management LLC Boosts Holdings in AutoZone, Inc. (NYSE:AZO)

International Assets Investment Management LLC increased its holdings in AutoZone, Inc. (NYSE:AZO) by 232,194.6% during the fourth quarter, Holdings Channel reports. The firm owned 731,728 shares of the company’s stock after acquiring an additional 731,413 shares during the quarter. AutoZone makes up 0.4% of International Assets Investment Management LLC’s portfolio, making the stock its 27th biggest holding. International Assets Investment Management LLC’s holdings in AutoZone were worth $1,891,963,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Boston Trust Walden Corp increased its stake in AutoZone by 2.5% in the 4th quarter. Boston Trust Walden Corp now owns 26,969 shares of the company’s stock worth $69,731,000 after acquiring an additional 649 shares during the last quarter. KG&L Capital Management LLC bought a new stake in AutoZone in the 4th quarter worth approximately $238,000. Ballentine Partners LLC increased its stake in AutoZone by 2.5% in the 4th quarter. Ballentine Partners LLC now owns 571 shares of the company’s stock worth $1,475,000 after acquiring an additional 14 shares during the last quarter. Trust Point Inc. bought a new stake in AutoZone in the 4th quarter worth approximately $401,000. Finally, Venturi Wealth Management LLC increased its stake in AutoZone by 12.9% in the 4th quarter. Venturi Wealth Management LLC now owns 228 shares of the company’s stock worth $590,000 after acquiring an additional 26 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.6 %

Shares of AutoZone stock opened at $3,104.94 on Friday. AutoZone, Inc. has a 52 week low of $2,277.88 and a 52 week high of $3,256.37. The company has a market capitalization of $53.72 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.66 and a beta of 0.70. The stock’s fifty day moving average is $2,960.12 and its two-hundred day moving average is $2,723.16.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, topping the consensus estimate of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the prior year, the business earned $24.64 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts anticipate that AutoZone, Inc. will post 151.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AZO. Morgan Stanley lifted their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. UBS Group boosted their target price on AutoZone from $3,100.00 to $3,425.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Truist Financial boosted their target price on AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a research report on Tuesday. William Blair reissued an “outperform” rating on shares of AutoZone in a research report on Wednesday, December 13th. Finally, Wedbush boosted their target price on AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,089.61.

Insiders Place Their Bets

In other AutoZone news, Director George R. Mrkonic, Jr. sold 414 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $2,541.85, for a total value of $1,052,325.90. Following the completion of the sale, the director now directly owns 3,470 shares in the company, valued at approximately $8,820,219.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Grant E. Mcgee sold 693 shares of the company’s 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 sale, the vice president now directly owns 251 shares in the company, valued at approximately $666,189.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George R. Mrkonic, Jr. sold 414 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $2,541.85, for a total value of $1,052,325.90. Following the sale, the director now owns 3,470 shares of the company’s stock, valued at $8,820,219.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,997 shares of company stock worth $61,108,338. 2.50% of the stock is currently owned by company insiders.

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.