Tyche Wealth Partners LLC Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Tyche Wealth Partners LLC acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 189 shares of the company’s stock, valued at approximately $489,000.

Several other large investors also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of AutoZone by 232,194.6% during the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after acquiring an additional 731,413 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in AutoZone by 107,977.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after purchasing an additional 698,613 shares during the period. Royal Bank of Canada boosted its holdings in AutoZone by 1.3% in the third quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock worth $1,121,572,000 after purchasing an additional 5,650 shares during the last quarter. Wellington Management Group LLP raised its stake in AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after buying an additional 176,623 shares during the last quarter. Finally, Norges Bank bought a new position in shares of AutoZone during the 4th quarter valued at $658,788,000. 92.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AZO has been the subject of a number of research reports. Mizuho started coverage on AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. DA Davidson upped their target price on shares of AutoZone from $2,770.00 to $3,025.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Wedbush lifted their price target on shares of AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Finally, Truist Financial raised their target price on AutoZone from $3,363.00 to $3,523.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,086.61.

Insiders Place Their Bets

In related news, CEO Philip B. Daniele sold 4,190 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the transaction, the chief executive officer now owns 900 shares of the company’s stock, valued at approximately $2,845,512. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the transaction, the chief executive officer now owns 900 shares in the company, valued at $2,845,512. The disclosure for this sale can be found here. Insiders sold 17,890 shares of company stock valued at $55,531,693 in the last three months. Corporate insiders own 2.50% of the company’s stock.

AutoZone Stock Up 0.2 %

AZO stock traded up $6.76 during mid-day trading on Wednesday, hitting $2,910.27. The company had a trading volume of 177,204 shares, compared to its average volume of 126,428. The company has a 50-day moving average price of $2,992.30 and a 200 day moving average price of $2,751.32. AutoZone, Inc. has a 12-month low of $2,277.88 and a 12-month high of $3,256.37. The company has a market capitalization of $50.40 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.44 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the business earned $24.64 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts expect that AutoZone, Inc. will post 151.98 EPS for the current year.

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.