Assetmark Inc. Boosts Stake in AutoZone, Inc. (NYSE:AZO)

Assetmark Inc. boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,459 shares of the company’s stock after acquiring an additional 133 shares during the period. Assetmark Inc.’s holdings in AutoZone were worth $3,772,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rock Creek Group LP purchased a new stake in AutoZone in the 3rd quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in AutoZone in the 3rd quarter valued at about $51,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AutoZone in the 4th quarter valued at approximately $54,000. Private Wealth Management Group LLC acquired a new stake in shares of AutoZone during the 4th quarter worth approximately $54,000. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of AutoZone during the 3rd quarter worth approximately $64,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the sale, the vice president now owns 2,921 shares in the company, valued at approximately $8,756,456.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Wednesday, February 28th. The shares were 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 in the company, valued at $8,756,456.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 15,357 shares in the company, valued at approximately $48,992,208.54. 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 Price Performance

Shares of NYSE AZO traded up $15.36 during midday trading on Friday, hitting $2,792.90. 93,928 shares of the company’s stock were exchanged, compared to its average volume of 152,881. The company has a market cap of $48.37 billion, a PE ratio of 19.67, a P/E/G ratio of 1.39 and a beta of 0.72. AutoZone, Inc. has a twelve month low of $2,277.88 and a twelve month high of $3,256.37. The firm’s fifty day simple moving average is $3,009.41 and its 200-day simple moving average is $2,827.75.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $34.12 EPS. Equities analysts anticipate that AutoZone, Inc. will post 151.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the topic of a number of research analyst reports. Wolfe Research reduced their target price on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research report on Wednesday. Citigroup dropped their price target on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley dropped their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a report on Wednesday. DA Davidson upped their price target on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3,066.53.

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.