Phoenix Financial Ltd. grew its position in AutoZone, Inc. (NYSE:AZO – Free Report) by 387.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 507 shares of the company’s stock after purchasing an additional 403 shares during the quarter. Phoenix Financial Ltd.’s holdings in AutoZone were worth $1,719,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of AutoZone by 6.6% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock valued at $21,315,000 after buying an additional 306 shares during the last quarter. Summit Global Investments boosted its stake in shares of AutoZone by 132.8% during the third quarter. Summit Global Investments now owns 319 shares of the company’s stock worth $1,369,000 after buying an additional 182 shares during the period. Numerai GP LLC boosted its stake in shares of AutoZone by 1,199.3% during the third quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock worth $7,525,000 after buying an additional 1,619 shares during the period. Foundations Investment Advisors LLC acquired a new stake in shares of AutoZone during the third quarter worth about $678,000. Finally, Caprock Group LLC acquired a new stake in shares of AutoZone during the third quarter worth about $4,049,000. 92.74% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price for the company in a research note on Monday, March 9th. TD Cowen decreased their target price on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Citigroup increased their target price on shares of AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. The Goldman Sachs Group increased their target price on shares of AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, UBS Group set a $4,800.00 target price on shares of AutoZone in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,312.13.
AutoZone Stock Down 1.8%
Shares of NYSE:AZO opened at $3,318.09 on Friday. The company has a market cap of $54.68 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.73 and a beta of 0.43. The firm’s 50-day simple moving average is $3,492.44 and its 200-day simple moving average is $3,597.74. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11.
AutoZone (NYSE:AZO – Get Free Report) last issued its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $28.29 earnings per share. On average, research analysts forecast that AutoZone, Inc. will post 148.93 EPS for the current year.
Insider Buying and Selling at AutoZone
In other news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.
AutoZone Company Profile
AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.
AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.
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