Legacy Bridge LLC Takes $32,000 Position in AutoZone, Inc. (NYSE:AZO)

Legacy Bridge LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO – Get Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13 shares of the company’s stock, valued at approximately $32,000.

Other institutional investors also recently modified their holdings of the company. Belmont Capital LLC bought a new stake in shares of AutoZone in the 3rd quarter valued at $26,000. Robbins Farley bought a new stake in shares of AutoZone in the 3rd quarter valued at $26,000. WD Rutherford LLC bought a new stake in shares of AutoZone in the 3rd quarter valued at $32,000. MUFG Americas Holdings Corp boosted its stake in shares of AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after purchasing an additional 10 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of AutoZone by 142.9% in the 3rd quarter. Larson Financial Group LLC now owns 17 shares of the company’s stock valued at $36,000 after purchasing an additional 10 shares during the last quarter. 91.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

AZO has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of AutoZone from $2,725.00 to $2,800.00 and gave the company an “overweight” rating in a research note on Wednesday, March 1st. Wells Fargo & Company increased their target price on shares of AutoZone from $2,450.00 to $2,850.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 29th. Raymond James increased their target price on shares of AutoZone from $2,600.00 to $2,650.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. Truist Financial increased their target price on shares of AutoZone from $2,800.00 to $2,878.00 in a research note on Wednesday, March 1st. Finally, DA Davidson increased their target price on shares of AutoZone from $1,950.00 to $2,360.00 in a research note on Wednesday, December 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $2,652.76.

AutoZone Price Performance

Shares of AZO stock opened at $2,365.00 on Friday. The firm has a 50-day moving average of $2,452.02 and a 200-day moving average of $2,386.42. The company has a market cap of $44.39 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.65 and a beta of 0.69. AutoZone, Inc. has a one year low of $1,703.32 and a one year high of $2,610.05.

AutoZone (NYSE:AZO – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $24.64 EPS for the quarter, beating the consensus estimate of $21.33 by $3.31. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.56 billion. AutoZone had a net margin of 14.32% and a negative return on equity of 64.72%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $22.30 earnings per share. As a group, research analysts expect that AutoZone, Inc. will post 127.64 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Grant E. Mcgee sold 500 shares of the stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $2,400.00, for a total value of $1,200,000.00. Following the completion of the sale, the vice president now owns 244 shares in the company, valued at $585,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Grant E. Mcgee sold 500 shares of the stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $2,400.00, for a total value of $1,200,000.00. Following the completion of the sale, the vice president now owns 244 shares in the company, valued at $585,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Philip B. Daniele sold 448 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $2,450.00, for a total transaction of $1,097,600.00. Following the completion of the sale, the executive vice president now owns 570 shares of the company’s stock, valued at approximately $1,396,500. The disclosure for this sale can be found here. Insiders sold a total of 38,872 shares of company stock worth $94,603,027 over the last quarter. Insiders own 2.59% of the company’s stock.

AutoZone Profile

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.