Avidian Wealth Solutions LLC Purchases New Position in AutoZone, Inc. (NYSE:AZO)

Avidian Wealth Solutions LLC acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 96 shares of the company’s stock, valued at approximately $248,000.

Several other large investors also recently added to or reduced their stakes in the business. LGT Capital Partners LTD. raised its stake in shares of AutoZone by 32.2% in the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after acquiring an additional 6,630 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of AutoZone by 49.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock valued at $401,000 after purchasing an additional 51 shares during the period. Headlands Technologies LLC acquired a new stake in shares of AutoZone in the fourth quarter worth $145,000. Handelsbanken Fonder AB boosted its holdings in shares of AutoZone by 8.1% during the 4th quarter. Handelsbanken Fonder AB now owns 7,544 shares of the company’s stock worth $19,506,000 after buying an additional 566 shares during the period. Finally, Knights of Columbus Asset Advisors LLC grew its stake in AutoZone by 17.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 1,701 shares of the company’s stock valued at $4,398,000 after buying an additional 255 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Eric S. Gould sold 2,100 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the sale, the vice president now directly owns 910 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the transaction, the vice president now owns 910 shares in the company, valued at approximately $2,912,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,990 shares of company stock worth $50,335,193. Insiders own 2.50% of the company’s stock.

AutoZone Trading Up 0.5 %

Shares of AZO opened at $2,967.70 on Tuesday. The stock has a market cap of $51.40 billion, a PE ratio of 20.90, a PEG ratio of 1.46 and a beta of 0.72. AutoZone, Inc. has a 1 year low of $2,277.88 and a 1 year high of $3,256.37. The stock has a 50 day simple moving average of $3,055.88 and a 200-day simple moving average of $2,791.59.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $24.64 EPS. On average, sell-side analysts forecast that AutoZone, Inc. will post 152.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Mizuho started coverage on shares of AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 target price for the company. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. DA Davidson lifted their price target on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Evercore ISI reduced their price objective on AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Finally, UBS Group boosted their target price on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3,086.61.

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.