SageView Advisory Group LLC Purchases Shares of 100 AutoZone, Inc. (NYSE:AZO)

SageView Advisory Group LLC acquired a new position in AutoZone, Inc. (NYSE:AZO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 100 shares of the company’s stock, valued at approximately $284,000.

A number of other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in AutoZone by 232,194.6% during the fourth 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. Norges Bank purchased a new stake in AutoZone during the 4th quarter valued at about $678,350,000. Wellington Management Group LLP grew its position in 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 acquiring an additional 176,623 shares during the last quarter. Parnassus Investments LLC increased its stake in AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after purchasing an additional 58,989 shares during the period. Finally, Nordea Investment Management AB lifted its position in AutoZone by 42.6% in the fourth 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. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price target on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Barclays dropped their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Citigroup reduced their price target on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. UBS Group dropped their price objective on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Morgan Stanley reduced their target price on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,105.88.

AutoZone Stock Up 1.3 %

AZO stock opened at $3,008.23 on Friday. The business has a 50 day moving average of $2,892.48 and a 200 day moving average of $2,850.41. The firm has a market cap of $51.38 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37.

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

Insider Buying and Selling at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Jenna M. Bedsole purchased 36 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was acquired 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 of the company’s stock, valued at approximately $99,255.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

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.