Security Financial Services INC. Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Security Financial Services INC. purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the first quarter, according to its most recent filing with the SEC. The firm purchased 85 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors have also modified their holdings of the company. Rise Advisors LLC acquired a new position in AutoZone during the first quarter worth $32,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AutoZone during the 4th quarter worth $54,000. Private Wealth Management Group LLC purchased a new stake in shares of AutoZone in the 4th quarter worth about $54,000. Quarry LP acquired a new stake in AutoZone in the 4th quarter valued at about $70,000. Finally, Creative Financial Designs Inc. ADV raised its position in AutoZone by 50.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 30 shares of the company’s stock worth $78,000 after acquiring an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AZO. Wedbush lowered their price target on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. DA Davidson raised their price target on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Morgan Stanley reduced their price objective on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. 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. Finally, Evercore ISI lifted their price target on AutoZone from $3,250.00 to $3,278.00 and gave the company an “outperform” rating in a report on Thursday. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $3,105.88.

AutoZone Price Performance

Shares of AZO stock traded down $5.35 on Monday, hitting $2,985.00. 5,524 shares of the stock traded hands, compared to its average volume of 153,462. The company has a market capitalization of $50.98 billion, a PE ratio of 20.68, a PEG ratio of 1.51 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. The company’s fifty day moving average is $2,893.07 and its 200 day moving average is $2,854.96.

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

Insider Buying and Selling at AutoZone

In other news, VP Jenna M. Bedsole acquired 36 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the transaction, the vice president now directly owns 36 shares in the company, valued at approximately $99,255.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the transaction, the vice president now directly owns 36 shares in the company, valued at $99,255.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William C. Rhodes III sold 6,700 shares of the business’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 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. 2.50% of the stock is currently owned by company 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.