AutoZone, Inc. (NYSE:AZO) Shares Sold by High Note Wealth LLC

High Note Wealth LLC reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,918 shares of the company’s stock after selling 20 shares during the period. AutoZone makes up approximately 1.9% of High Note Wealth LLC’s investment portfolio, making the stock its 17th biggest holding. High Note Wealth LLC’s holdings in AutoZone were worth $4,960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AZO. State Street Corp increased its holdings in AutoZone by 1.4% in the second quarter. State Street Corp now owns 809,113 shares of the company’s stock valued at $2,017,410,000 after buying an additional 11,438 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after buying an additional 698,613 shares in the last quarter. Royal Bank of Canada increased its holdings in AutoZone by 1.3% in the third quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock valued at $1,121,572,000 after buying an additional 5,650 shares in the last quarter. Wellington Management Group LLP increased its holdings in AutoZone by 111.4% in the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after buying an additional 176,623 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AutoZone during the fourth quarter worth about $658,788,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Up 0.0 %

AZO stock opened at $3,192.79 on Thursday. The company has a market cap of $55.24 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.68 and a beta of 0.70. AutoZone, Inc. has a 52 week low of $2,277.88 and a 52 week high of $3,256.37. The company’s 50-day moving average price is $2,902.37 and its 200 day moving average price is $2,695.82.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $26.08 by $2.81. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $24.64 earnings per share. On average, equities research analysts expect that AutoZone, Inc. will post 151.33 earnings per share for the current year.

Insider Activity

In related news, VP Grant E. Mcgee sold 693 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $2,654.14, for a total value of $1,839,319.02. Following the completion of the sale, the vice president now directly owns 251 shares in the company, valued at $666,189.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Grant E. Mcgee sold 693 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $2,654.14, for a total value of $1,839,319.02. Following the completion of the sale, the vice president now directly owns 251 shares in the company, valued at $666,189.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Thomas B. Newbern sold 7,800 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $2,551.62, for a total transaction of $19,902,636.00. Following the sale, the chief operating officer now owns 2,519 shares of the company’s stock, valued at $6,427,530.78. The disclosure for this sale can be found here. Insiders sold a total of 27,797 shares of company stock valued at $81,010,974 over the last 90 days. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. William Blair reissued an “outperform” rating on shares of AutoZone in a research note on Wednesday, December 13th. Evercore ISI increased their price objective on shares of AutoZone from $3,375.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. UBS Group increased their target price on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Stephens raised their price objective on shares of AutoZone from $3,000.00 to $3,070.00 and gave the company an “overweight” rating in a report on Wednesday, December 6th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $3,080.72.

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.