Drive Wealth Management LLC Buys New Position in AutoZone, Inc. (NYSE:AZO)

Drive Wealth Management LLC purchased a new stake in AutoZone, Inc. (NYSE:AZOFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 81 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors have also recently added to or reduced their stakes in AZO. Householder Group Estate & Retirement Specialist LLC acquired a new position in AutoZone in the third quarter valued at approximately $25,000. Rock Creek Group LP acquired a new position in AutoZone in the third quarter valued at approximately $25,000. First Capital Advisors Group LLC. acquired a new position in AutoZone in the second quarter valued at approximately $32,000. MUFG Americas Holdings Corp lifted its stake in AutoZone by 166.7% in the third quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after buying an additional 10 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new position in AutoZone in the third quarter valued at approximately $38,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,170.04 on Wednesday. The company has a market capitalization of $54.84 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 1.67 and a beta of 0.70. The business has a fifty day moving average price of $2,937.47 and a two-hundred day moving average price of $2,713.10. AutoZone, Inc. has a 1 year low of $2,277.88 and a 1 year high of $3,256.37.

AutoZone (NYSE:AZOGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $26.08 by $2.81. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $4.32 billion. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $24.64 EPS. Sell-side analysts anticipate that AutoZone, Inc. will post 151.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on AZO shares. Wedbush boosted their price target on AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Barclays upped their target price on AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Evercore ISI upped their target price on AutoZone from $3,375.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. DA Davidson upped their target price on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, UBS Group upped their target price on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $3,089.61.

Get Our Latest Stock Report on AutoZone

Insider Buying and Selling at AutoZone

In other AutoZone news, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the transaction, the chief executive officer now owns 900 shares in the company, valued at approximately $2,845,512. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the transaction, the chairman now owns 15,357 shares in the company, valued at approximately $48,992,208.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Philip B. Daniele sold 4,190 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the transaction, the chief executive officer now owns 900 shares of the company’s stock, valued at approximately $2,845,512. The disclosure for this sale can be found here. Insiders sold 27,797 shares of company stock worth $81,010,974 in the last quarter. 2.50% of the stock is currently owned by company insiders.

About AutoZone

(Free Report)

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.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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