AutoZone, Inc. (NYSE:AZO) Shares Purchased by Spire Wealth Management

Spire Wealth Management increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 729.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 829 shares of the company’s stock after purchasing an additional 729 shares during the quarter. Spire Wealth Management’s holdings in AutoZone were worth $3,161,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AZO. Headlands Technologies LLC acquired a new stake in shares of AutoZone during the fourth quarter worth $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone during the fourth quarter worth $32,000. Harbour Investments Inc. lifted its holdings in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of AutoZone during the fourth quarter worth $45,000. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of AutoZone by 750.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company’s stock worth $54,000 after purchasing an additional 15 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AZO. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 28th. Oppenheimer upgraded AutoZone from a “market perform” rating to an “outperform” rating and set a $4,600.00 price objective for the company in a research report on Friday, May 2nd. Roth Mkm increased their price objective on AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Morgan Stanley reiterated an “overweight” rating and issued a $4,000.00 price objective (up previously from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $4,100.00 price objective (up previously from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, AutoZone presently has a consensus rating of “Buy” and a consensus target price of $4,072.24.

Insider Activity

In related news, VP Domingo Hurtado sold 4,800 shares of AutoZone stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the completion of the sale, the vice president now owns 159 shares in the company, valued at approximately $581,940. This trade represents a 96.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 27,500 shares of AutoZone stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the sale, the chairman now owns 8,546 shares of the company’s stock, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,662 shares of company stock worth $131,999,089 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Down 2.6%

Shares of AZO stock opened at $3,485.54 on Thursday. AutoZone, Inc. has a fifty-two week low of $2,801.49 and a fifty-two week high of $3,916.81. The stock has a market cap of $58.49 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.14 and a beta of 0.40. The business has a fifty day simple moving average of $3,696.27 and a 200-day simple moving average of $3,529.06.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts’ consensus estimates of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same quarter in the prior year, the business earned $36.69 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone Profile

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.