Eagle Wealth Strategies LLC Purchases New Shares in AutoZone, Inc. (NYSE:AZO)

Eagle Wealth Strategies LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 110 shares of the company’s stock, valued at approximately $347,000.

Several other large investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in shares of AutoZone by 35.3% during the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock valued at $11,138,000 after buying an additional 922 shares in the last quarter. Sei Investments Co. raised its position in shares of AutoZone by 60.7% in the 1st quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock worth $70,326,000 after purchasing an additional 8,427 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of AutoZone by 12.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock worth $11,059,000 after purchasing an additional 401 shares during the last quarter. Peak Financial Advisors LLC purchased a new position in shares of AutoZone in the 2nd quarter worth about $2,816,000. Finally, Nomura Holdings Inc. purchased a new position in shares of AutoZone in the 4th quarter worth about $879,000. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AZO. Citigroup lowered their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Truist Financial lowered their target price on shares of AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Guggenheim upped their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Morgan Stanley upped their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone has a consensus rating of “Buy” and an average target price of $3,169.38.

Insider Buying and Selling at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

AutoZone Stock Performance

AZO traded up $6.92 during trading on Wednesday, reaching $3,109.01. 6,407 shares of the company traded hands, compared to its average volume of 140,610. AutoZone, Inc. has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The firm has a fifty day simple moving average of $3,132.04 and a 200 day simple moving average of $3,008.01. The company has a market cap of $53.11 billion, a P/E ratio of 21.45, a PEG ratio of 1.43 and a beta of 0.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The company had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the business earned $46.46 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone, Inc. will post 151.08 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.