Avantax Advisory Services Inc. Buys 56 Shares of AutoZone, Inc. (NYSE:AZO)

Avantax Advisory Services Inc. grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 2.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,443 shares of the company’s stock after acquiring an additional 56 shares during the period. Avantax Advisory Services Inc.’s holdings in AutoZone were worth $7,824,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC lifted its stake in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after buying an additional 419,375 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of AutoZone during the 4th quarter valued at approximately $471,629,000. Wealthfront Advisers LLC lifted its stake in shares of AutoZone by 6,083.9% during the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock valued at $290,281,000 after buying an additional 89,190 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after buying an additional 60,483 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of AutoZone during the 4th quarter valued at approximately $189,483,000. 92.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AZO. DA Davidson upped their price target on shares of AutoZone from $3,350.00 to $3,500.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. Roth Mkm upped their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Mizuho upped their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Morgan Stanley increased their target price on shares of AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Truist Financial increased their target price on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,651.91.

Insider Activity at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the transaction, the senior vice president now owns 50 shares of the company’s stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dennis W. Leriche sold 1,575 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the transaction, the vice president now directly owns 417 shares in the company, valued at approximately $1,501,200. This represents a 79.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,871 shares of company stock valued at $6,720,811. Insiders own 2.10% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,538.59 on Friday. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,704.43. The company’s fifty day moving average price is $3,395.79 and its 200-day moving average price is $3,240.97. The firm has a market capitalization of $59.38 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 EPS 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.