AutoZone, Inc. (NYSE:AZO) Position Trimmed by Foster & Motley Inc.

Foster & Motley Inc. reduced its holdings in AutoZone, Inc. (NYSE:AZO) by 7.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 940 shares of the company’s stock after selling 74 shares during the quarter. Foster & Motley Inc.’s holdings in AutoZone were worth $2,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rock Creek Group LP acquired a new position in AutoZone in the third quarter valued at approximately $25,000. ORG Partners LLC acquired a new stake in AutoZone in the third quarter worth about $43,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of AutoZone during the third quarter valued at approximately $51,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of AutoZone in the 4th quarter worth $54,000. Finally, Steward Financial Group LLC raised its position in shares of AutoZone by 66.7% during the third quarter. Steward Financial Group LLC now owns 25 shares of the company’s stock worth $63,000 after purchasing an additional 10 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Trading Up 1.0 %

NYSE AZO opened at $2,990.44 on Tuesday. AutoZone, Inc. has a 1-year low of $2,277.88 and a 1-year high of $3,256.37. The company has a 50 day moving average of $3,010.24 and a 200-day moving average of $2,764.30. The firm has a market cap of $51.79 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.48 and a beta of 0.70.

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

Analysts Set New Price Targets

Several analysts have issued reports on AZO shares. Wedbush boosted their price objective on AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. UBS Group boosted their price target on shares of AutoZone from $3,100.00 to $3,425.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Mizuho started coverage on AutoZone in a report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 price target for the company. Evercore ISI reduced their target price on shares of AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Finally, Truist Financial boosted their target price on shares of AutoZone from $3,363.00 to $3,523.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $3,086.61.

Insider Activity

In related news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the transaction, the vice president now owns 2,921 shares in the company, valued at approximately $8,756,456.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the sale, the vice president now owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the transaction, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,990 shares of company stock worth $50,335,193. 2.50% of the stock is owned by corporate 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.