Focus Partners Wealth Acquires 3,849 Shares of AutoZone, Inc. $AZO

Focus Partners Wealth raised its holdings in AutoZone, Inc. (NYSE:AZO) by 25.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,784 shares of the company’s stock after acquiring an additional 3,849 shares during the quarter. Focus Partners Wealth’s holdings in AutoZone were worth $63,735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AZO. Brighton Jones LLC boosted its stake in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares during the last quarter. Sivia Capital Partners LLC bought a new position in AutoZone in the second quarter valued at approximately $356,000. Guggenheim Capital LLC boosted its stake in AutoZone by 3.8% in the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after acquiring an additional 9 shares during the last quarter. NewEdge Advisors LLC boosted its stake in AutoZone by 8.9% in the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after acquiring an additional 112 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in AutoZone by 52.3% in the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after acquiring an additional 4,039 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Down 0.3%

AZO stock opened at $3,105.57 on Tuesday. The stock has a market cap of $51.18 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 1.58 and a beta of 0.35. The stock has a 50-day moving average price of $3,361.28 and a two-hundred day moving average price of $3,506.08. AutoZone, Inc. has a 1 year low of $2,928.11 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the company earned $35.36 earnings per share. AutoZone’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that AutoZone, Inc. will post 150.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction that occurred on 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 directly owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Hannasch acquired 165 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the transaction, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on AZO shares. Guggenheim lowered their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Morgan Stanley cut their target price on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price on the stock in a report on Monday, March 9th. DA Davidson cut their target price on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone 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.