70 Shares in AutoZone, Inc. (NYSE:AZO) Bought by Eagle Ridge Investment Management

Eagle Ridge Investment Management acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 70 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZO. Rehmann Capital Advisory Group raised its holdings in shares of AutoZone by 16.7% in the third quarter. Rehmann Capital Advisory Group now owns 112 shares of the company’s stock valued at $284,000 after purchasing an additional 16 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in AutoZone by 278.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 2,080 shares of the company’s stock worth $5,283,000 after buying an additional 1,530 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in AutoZone during the 3rd quarter worth about $254,000. AQR Capital Management LLC boosted its stake in shares of AutoZone by 2.4% during the 3rd quarter. AQR Capital Management LLC now owns 46,487 shares of the company’s stock worth $118,077,000 after buying an additional 1,104 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of AutoZone by 19.6% in the 3rd quarter. Truist Financial Corp now owns 6,959 shares of the company’s stock valued at $17,676,000 after acquiring an additional 1,141 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO stock traded up $34.53 on Tuesday, hitting $2,867.32. 129,088 shares of the company’s stock were exchanged, compared to its average volume of 153,895. The company has a 50 day moving average of $2,891.70 and a 200 day moving average of $2,866.94. The stock has a market cap of $48.97 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71. AutoZone, Inc. has a 12 month low of $2,375.35 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $34.12 earnings per share. Sell-side analysts predict that AutoZone, Inc. will post 151.57 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, VP Jenna M. Bedsole bought 36 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the transaction, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price objective on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Mizuho dropped their target price on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Wolfe Research reduced their price target on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Wedbush dropped their price objective on AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Finally, Citigroup reduced their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3,112.71.

About AutoZone

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.