AutoZone, Inc. (NYSE:AZO) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 8.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 79 shares of the company’s stock after purchasing an additional 6 shares during the quarter. Sunbelt Securities Inc.’s holdings in AutoZone were worth $249,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake 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 buying an additional 731,413 shares during the period. Royal Bank of Canada lifted its holdings in shares of AutoZone by 1.3% in the 3rd quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock worth $1,121,572,000 after acquiring an additional 5,650 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of AutoZone by 111.4% during the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after purchasing an additional 176,623 shares during the period. Norges Bank acquired a new stake in AutoZone in the 4th quarter valued at approximately $678,350,000. Finally, Morgan Stanley raised its position in AutoZone by 4.5% in the third quarter. Morgan Stanley now owns 259,964 shares of the company’s stock valued at $660,309,000 after purchasing an additional 11,104 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AZO has been the subject of several research analyst reports. Guggenheim raised their price target on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup lowered their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Barclays dropped their target price on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Truist Financial lowered their price objective on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, Mizuho cut their target price on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $3,112.88.

Insider Activity at AutoZone

In other news, VP Jenna M. Bedsole acquired 36 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the acquisition, the vice president now owns 36 shares in the company, valued at approximately $99,255.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by corporate insiders.

AutoZone Price Performance

AutoZone stock opened at $2,964.10 on Friday. The stock’s fifty day moving average is $2,894.37 and its two-hundred day moving average is $2,863.15. The stock has a market cap of $50.63 billion, a PE ratio of 20.50, a P/E/G ratio of 1.47 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm earned $34.12 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. On average, research analysts expect that AutoZone, Inc. will post 151.57 earnings per share for the current fiscal year.

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.