Rehmann Capital Advisory Group Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Rehmann Capital Advisory Group purchased a new position in shares of AutoZone, Inc. (NYSE:AZO – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 90 shares of the company’s stock, valued at approximately $222,000.

Several other large investors also recently bought and sold shares of the stock. Robbins Farley acquired a new position in shares of AutoZone during the 3rd quarter worth about $26,000. AdvisorNet Financial Inc boosted its position in shares of AutoZone by 83.3% in the 4th quarter. AdvisorNet Financial Inc now owns 11 shares of the company’s stock valued at $27,000 after purchasing an additional 5 shares during the period. RFP Financial Group LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at about $27,000. Legacy Bridge LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at about $32,000. Finally, MUFG Americas Holdings Corp boosted its position in shares of AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after purchasing an additional 10 shares during the period. Hedge funds and other institutional investors own 91.12% of the company’s stock.

Insiders Place Their Bets

In other news, VP Dennis W. Leriche sold 1,420 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $2,573.04, for a total transaction of $3,653,716.80. Following the sale, the vice president now owns 379 shares in the company, valued at $975,182.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Dennis W. Leriche sold 1,420 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $2,573.04, for a total transaction of $3,653,716.80. Following the sale, the vice president now owns 379 shares in the company, valued at $975,182.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William C. Rhodes III sold 29,511 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $2,427.27, for a total value of $71,631,164.97. Following the sale, the chief executive officer now owns 14,825 shares in the company, valued at approximately $35,984,277.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,960 shares of company stock valued at $90,128,092. Corporate insiders own 2.59% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $2,459.75 on Friday. The stock has a fifty day moving average of $2,575.67 and a two-hundred day moving average of $2,499.14. The company has a market capitalization of $45.26 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.59 and a beta of 0.68. AutoZone, Inc. has a fifty-two week low of $1,959.58 and a fifty-two week high of $2,750.00.

AutoZone (NYSE:AZO – Get Rating) last released its quarterly earnings results on Tuesday, May 23rd. The company reported $34.12 earnings per share for the quarter, topping the consensus estimate of $30.84 by $3.28. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.12 billion. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. AutoZone’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $29.03 earnings per share. On average, analysts forecast that AutoZone, Inc. will post 129.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup upped their target price on AutoZone from $2,782.00 to $3,125.00 in a research report on Wednesday, May 17th. Truist Financial increased their price objective on AutoZone from $2,878.00 to $2,886.00 in a research report on Wednesday. Roth Capital reaffirmed a “buy” rating on shares of AutoZone in a research report on Tuesday, February 28th. Morgan Stanley increased their price objective on AutoZone from $2,725.00 to $2,800.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 1st. Finally, Bank of America increased their target price on AutoZone from $1,890.00 to $2,120.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $2,683.56.

AutoZone Company Profile

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.