RWA Wealth Partners LLC Makes New $908,000 Investment in AutoZone, Inc. (NYSE:AZO)

RWA Wealth Partners LLC bought a new stake in AutoZone, Inc. (NYSE:AZO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 351 shares of the company’s stock, valued at approximately $908,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. International Assets Investment Management LLC raised its position in AutoZone by 232,194.6% in the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after purchasing an additional 731,413 shares during the period. Wellington Management Group LLP raised its position in AutoZone by 111.4% in the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after purchasing an additional 176,623 shares during the period. Ontario Teachers Pension Plan Board raised its position in AutoZone by 341.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 159,285 shares of the company’s stock valued at $404,582,000 after purchasing an additional 123,208 shares during the period. Nordea Investment Management AB raised its position in AutoZone by 42.6% in the fourth quarter. Nordea Investment Management AB now owns 195,084 shares of the company’s stock valued at $501,512,000 after purchasing an additional 58,234 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in AutoZone by 196.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 51,460 shares of the company’s stock valued at $133,055,000 after purchasing an additional 34,092 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AZO. Evercore ISI cut their price objective on AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Truist Financial boosted their price objective on AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Morgan Stanley boosted their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, Barclays boosted their target price on AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,086.61.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the sale, the vice president now directly owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the transaction, the vice president now directly owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The disclosure for this sale can be found here. Insiders sold a total of 15,990 shares of company stock valued at $50,335,193 in the last three months. 2.50% of the stock is currently owned by company insiders.

AutoZone Stock Up 0.9 %

Shares of NYSE AZO opened at $2,988.51 on Thursday. The stock has a market cap of $51.76 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.47 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,277.88 and a 52-week high of $3,256.37. The business has a 50-day moving average price of $3,020.17 and a 200 day moving average price of $2,768.74.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 56.06% and a net margin of 14.70%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $24.64 EPS. Sell-side analysts anticipate that AutoZone, Inc. will post 152.4 earnings per share for the current year.

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.