NewEdge Advisors LLC Increases Stock Holdings in AutoZone, Inc. (NYSE:AZO)

NewEdge Advisors LLC grew its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,202 shares of the company's stock after purchasing an additional 118 shares during the period. NewEdge Advisors LLC's holdings in AutoZone were worth $3,850,000 as of its most recent SEC filing.

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Several other hedge funds have also made changes to their positions in the business. Headlands Technologies LLC acquired a new position in AutoZone during the 4th quarter worth $29,000. Flagship Wealth Advisors LLC purchased a new position in shares of AutoZone in the 4th quarter valued at about $32,000. Harbour Investments Inc. grew its position in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after buying an additional 3 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of AutoZone during the fourth quarter worth approximately $61,000. Finally, McIlrath & Eck LLC raised its holdings in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after acquiring an additional 4 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Trading Up 1.0 %

AutoZone stock opened at $3,601.29 on Monday. The stock has a market capitalization of $60.44 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.86 and a beta of 0.54. The stock has a 50 day moving average of $3,573.52 and a two-hundred day moving average of $3,343.71. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,916.81.

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AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $3.98 billion. Equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Bailey L. Childress sold 160 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the sale, the senior vice president now owns 50 shares of the company's stock, valued at $177,500. The trade was a 76.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dennis W. Leriche sold 1,575 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the completion of the transaction, the vice president now directly owns 417 shares of the company's stock, valued at $1,501,200. The trade was a 79.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,721 shares of company stock worth $24,609,331. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

• AutoZone: Forget the Pullback, This Stock Is Still Climbing

Several research analysts have commented on AZO shares. Roth Mkm increased their price objective on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Evercore ISI increased their target price on AutoZone from $3,525.00 to $3,700.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. The Goldman Sachs Group raised AutoZone from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $3,044.00 to $3,811.00 in a report on Tuesday, April 1st. Bank of America increased their price objective on AutoZone from $3,600.00 to $3,700.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. Finally, UBS Group boosted their target price on AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, AutoZone presently has a consensus rating of "Moderate Buy" and a consensus price target of $3,724.00.

Read Our Latest Stock Analysis on AutoZone

AutoZone 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.

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