Robertson Stephens Wealth Management LLC Buys New Holdings in AutoZone, Inc. $AZO

Robertson Stephens Wealth Management LLC bought a new stake in AutoZone, Inc. (NYSE:AZO) during the fourth quarter, HoldingsChannel reports. The fund bought 198 shares of the company’s stock, valued at approximately $672,000.

A number of other large investors have also recently bought and sold shares of AZO. AQR Capital Management LLC boosted its position in AutoZone by 80.8% in the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock valued at $432,059,000 after buying an additional 45,212 shares during the last quarter. Victory Capital Management Inc. boosted its position in AutoZone by 401.2% in the 3rd quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock worth $222,247,000 after purchasing an additional 41,467 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in AutoZone in the 3rd quarter worth approximately $149,656,000. Vanguard Group Inc. boosted its position in AutoZone by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock worth $7,711,912,000 after purchasing an additional 26,544 shares in the last quarter. Finally, Capital World Investors boosted its position in AutoZone by 1,298.2% in the 3rd quarter. Capital World Investors now owns 24,818 shares of the company’s stock worth $106,475,000 after purchasing an additional 23,043 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO stock opened at $3,592.41 on Monday. The company has a market cap of $59.20 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.84 and a beta of 0.43. The stock has a 50 day simple moving average of $3,544.72 and a 200-day simple moving average of $3,627.63. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $28.29 EPS. Analysts anticipate that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Mizuho upped their price objective on AutoZone from $3,550.00 to $3,600.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. UBS Group set a $4,800.00 price objective on AutoZone in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. upped their price objective on AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Barclays upped their price objective on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Finally, Evercore upped their price objective on AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $4,312.13.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by insiders.

About AutoZone

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.