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

RWA Wealth Partners LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 351 shares of the company’s stock, valued at approximately $908,000.

A number of other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of AutoZone by 232,194.6% in 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 in the last quarter. Wellington Management Group LLP lifted its stake in AutoZone by 111.4% in the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after purchasing an additional 176,623 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in AutoZone by 341.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 159,285 shares of the company’s stock valued at $404,582,000 after purchasing an additional 123,208 shares during the last quarter. Nordea Investment Management AB lifted its stake in AutoZone by 42.6% in the 4th quarter. Nordea Investment Management AB now owns 195,084 shares of the company’s stock valued at $501,512,000 after purchasing an additional 58,234 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in AutoZone by 196.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 51,460 shares of the company’s stock worth $133,055,000 after acquiring an additional 34,092 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Truist Financial raised their price objective 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. Mizuho assumed coverage on shares of AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 price objective for the company. Morgan Stanley raised their price objective on shares of AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, DA Davidson raised their price objective on shares of AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,086.61.

AutoZone Stock Performance

NYSE AZO opened at $2,988.51 on Thursday. The firm’s fifty day moving average price is $3,020.17 and its two-hundred day moving average price is $2,768.74. The stock has a market cap of $51.76 billion, a PE ratio of 21.04, a PEG ratio of 1.47 and a beta of 0.70. AutoZone, Inc. has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data 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 net margin of 14.70% and a negative return on equity of 56.06%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the previous year, the firm posted $24.64 earnings per share. AutoZone’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the sale, the vice president now owns 910 shares of the company’s stock, valued at $2,912,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the transaction, the vice president now owns 910 shares in the company, valued at $2,912,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the vice president now owns 2,921 shares in the company, valued at approximately $8,756,456.96. The disclosure for this sale can be found here. Insiders have sold a total of 15,990 shares of company stock valued at $50,335,193 over the last 90 days. 2.50% of the stock is owned by 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.