Telemus Capital LLC Boosts Stock Position in AutoZone, Inc. (NYSE:AZO)

Telemus Capital LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 6.2% in the fourth quarter, HoldingsChannel reports. The firm owned 2,874 shares of the company’s stock after buying an additional 167 shares during the quarter. Telemus Capital LLC’s holdings in AutoZone were worth $7,431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. Rock Creek Group LP acquired a new stake in AutoZone in the 3rd quarter worth about $25,000. ORG Partners LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at about $43,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at about $51,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AutoZone in the 4th quarter valued at about $54,000. Finally, Steward Financial Group LLC lifted its position in AutoZone by 66.7% during the 3rd quarter. Steward Financial Group LLC now owns 25 shares of the company’s stock worth $63,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 0.7 %

Shares of NYSE AZO opened at $2,963.27 on Tuesday. AutoZone, Inc. has a twelve month low of $2,277.88 and a twelve month high of $3,256.37. The company has a market capitalization of $51.32 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 1.48 and a beta of 0.70. The business has a 50 day simple moving average of $3,010.24 and a 200-day simple moving average of $2,764.30.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the firm posted $24.64 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts predict that AutoZone, Inc. will post 152.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on AZO. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Morgan Stanley boosted their price target on AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Truist Financial boosted their price target on AutoZone from $3,363.00 to $3,523.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price target on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, UBS Group boosted their price target on 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 research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,086.61.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 completion of the sale, the chairman now owns 15,357 shares in the company, valued at $48,992,208.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction 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 approximately $8,756,456.96. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock worth $50,335,193 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

AutoZone 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.