AutoZone, Inc. (NYSE:AZO) Stake Increased by Arkadios Wealth Advisors

Arkadios Wealth Advisors boosted its stake in AutoZone, Inc. (NYSE:AZO) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796 shares of the company’s stock after acquiring an additional 30 shares during the period. Arkadios Wealth Advisors’ holdings in AutoZone were worth $2,058,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at about $25,000. Rock Creek Group LP bought a new position in shares of AutoZone during the third quarter valued at approximately $25,000. First Capital Advisors Group LLC. acquired a new stake in shares of AutoZone during the 2nd quarter worth approximately $32,000. MUFG Americas Holdings Corp raised its position in shares of AutoZone by 166.7% during the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after purchasing an additional 10 shares during the period. Finally, Mascoma Wealth Management LLC bought a new stake in shares of AutoZone in the 3rd quarter worth approximately $38,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

Shares of NYSE:AZO traded up $29.33 during trading hours on Friday, hitting $3,114.37. 42,500 shares of the company’s stock traded hands, compared to its average volume of 156,416. The company’s fifty day simple moving average is $2,960.12 and its two-hundred day simple moving average is $2,723.16. AutoZone, Inc. has a 52 week low of $2,277.88 and a 52 week high of $3,256.37. The company has a market cap of $53.88 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 1.66 and a beta of 0.70.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $24.64 earnings per share. On average, analysts anticipate that AutoZone, Inc. will post 151.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director George R. Mrkonic, Jr. sold 414 shares of AutoZone stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $2,541.85, for a total value of $1,052,325.90. Following the transaction, the director now owns 3,470 shares of the company’s stock, valued at approximately $8,820,219.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman William C. Rhodes III sold 6,700 shares of the firm’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 completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George R. Mrkonic, Jr. sold 414 shares of AutoZone stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $2,541.85, for a total value of $1,052,325.90. Following the transaction, the director now owns 3,470 shares in the company, valued at approximately $8,820,219.50. The disclosure for this sale can be found here. Insiders have sold 19,997 shares of company stock worth $61,108,338 in the last three months. 2.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AZO shares. JPMorgan Chase & Co. increased their target price on AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Evercore ISI lifted their price objective on shares of AutoZone from $3,375.00 to $3,400.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. William Blair reissued an “outperform” rating on shares of AutoZone in a research note on Wednesday, December 13th. Morgan Stanley raised their price target on shares of AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Finally, Mizuho initiated coverage on AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $3,089.61.

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.