Magnolia Capital Advisors LLC Buys New Holdings in AutoZone, Inc. (NYSE:AZO)

Magnolia Capital Advisors LLC purchased a new position in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 94 shares of the company’s stock, valued at approximately $267,000.

A number of other hedge funds have also recently added to or reduced their stakes in AZO. CWM LLC increased its position in shares of AutoZone by 1.3% during the third quarter. CWM LLC now owns 301 shares of the company’s stock worth $765,000 after acquiring an additional 4 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of AutoZone by 65.6% in the third quarter. AE Wealth Management LLC now owns 651 shares of the company’s stock worth $1,654,000 after purchasing an additional 258 shares during the last quarter. Meridian Wealth Management LLC lifted its holdings in shares of AutoZone by 74.8% in the third quarter. Meridian Wealth Management LLC now owns 708 shares of the company’s stock valued at $1,798,000 after purchasing an additional 303 shares in the last quarter. KFG Wealth Management LLC boosted its position in shares of AutoZone by 14.7% during the third quarter. KFG Wealth Management LLC now owns 156 shares of the company’s stock valued at $396,000 after buying an additional 20 shares during the last quarter. Finally, LGT Capital Partners LTD. grew its holdings in AutoZone by 7.9% during the third quarter. LGT Capital Partners LTD. now owns 20,620 shares of the company’s stock worth $52,375,000 after buying an additional 1,510 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling

In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the transaction, the chairman now directly owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AutoZone news, Chairman William C. Rhodes III sold 6,700 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated 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 sale, the vice president now owns 2,921 shares of the company’s stock, valued at approximately $8,756,456.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,990 shares of company stock valued at $50,335,193. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AZO shares. Morgan Stanley raised their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Wedbush boosted their price target on shares of AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. StockNews.com lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Evercore ISI cut their target price on AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Finally, UBS Group increased their price target on AutoZone from $3,100.00 to $3,425.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,086.61.

AutoZone Price Performance

Shares of AutoZone stock traded up $27.47 during trading hours on Wednesday, reaching $2,988.51. The company had a trading volume of 103,672 shares, compared to its average volume of 154,312. AutoZone, Inc. has a one year low of $2,277.88 and a one year high of $3,256.37. The firm 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. The business has a fifty day simple moving average of $3,020.17 and a 200 day simple moving average of $2,768.74.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the firm earned $24.64 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, research analysts forecast that AutoZone, Inc. will post 152.4 EPS for the current year.

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.