AutoZone, Inc. $AZO Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its stake in AutoZone, Inc. (NYSE:AZO) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,348 shares of the company’s stock after selling 218 shares during the quarter. AutoZone comprises approximately 1.2% of NewEdge Wealth LLC’s portfolio, making the stock its 11th biggest holding. NewEdge Wealth LLC owned approximately 0.12% of AutoZone worth $87,298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of AZO. Avantax Advisory Services Inc. boosted its position in shares of AutoZone by 8.3% in the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after acquiring an additional 210 shares during the last quarter. Braun Stacey Associates Inc. raised its stake in AutoZone by 7.8% during the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock worth $36,145,000 after purchasing an additional 613 shares during the period. Summit Global Investments boosted its holdings in shares of AutoZone by 132.8% in the 3rd quarter. Summit Global Investments now owns 319 shares of the company’s stock valued at $1,369,000 after purchasing an additional 182 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of AutoZone during the 3rd quarter valued at $678,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of AutoZone by 68.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock worth $6,251,000 after buying an additional 591 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AZO has been the topic of a number of research analyst reports. TD Cowen reduced their target price on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Mizuho restated a “neutral” rating and issued a $3,550.00 price objective (down from $3,850.00) on shares of AutoZone in a report on Monday, January 5th. Erste Group Bank cut AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Evercore reissued an “outperform” rating and set a $4,100.00 target price on shares of AutoZone in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4,271.25.

AutoZone Stock Up 0.1%

NYSE AZO opened at $3,746.84 on Thursday. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The business has a 50 day moving average price of $3,551.57 and a two-hundred day moving average price of $3,844.64. The stock has a market cap of $62.09 billion, a PE ratio of 26.13, a P/E/G ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $32.52 earnings per share. Sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the transaction, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the transaction, the director directly owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This represents a 2.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have acquired 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by corporate insiders.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.