High Note Wealth LLC Lowers Holdings in AutoZone, Inc. (NYSE:AZO)

High Note Wealth LLC trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,918 shares of the company’s stock after selling 20 shares during the period. AutoZone comprises about 1.9% of High Note Wealth LLC’s investment portfolio, making the stock its 17th biggest position. High Note Wealth LLC’s holdings in AutoZone were worth $4,960,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AZO. Moneta Group Investment Advisors LLC increased its holdings in shares of AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock worth $1,724,500,000 after purchasing an additional 698,613 shares during the last quarter. Royal Bank of Canada increased its stake in AutoZone by 368.0% during the first quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock worth $841,242,000 after acquiring an additional 323,536 shares during the last quarter. Norges Bank bought a new stake in AutoZone during the fourth quarter worth approximately $658,788,000. Wellington Management Group LLP increased its stake in AutoZone by 111.4% during the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock worth $851,379,000 after acquiring an additional 176,623 shares during the last quarter. Finally, Vestor Capital LLC increased its stake in AutoZone by 4,247.1% during the second quarter. Vestor Capital LLC now owns 141,543 shares of the company’s stock worth $352,918,000 after acquiring an additional 138,287 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director George R. Mrkonic, Jr. sold 414 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $2,541.85, for a total transaction of $1,052,325.90. Following the completion of the transaction, the director now owns 3,470 shares in the company, valued at $8,820,219.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other AutoZone news, Director George R. Mrkonic, Jr. sold 414 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $2,541.85, for a total value of $1,052,325.90. Following the completion of the transaction, the director now owns 3,470 shares in the company, valued at $8,820,219.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were 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 of the company’s stock, valued at approximately $48,992,208.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,797 shares of company stock worth $81,010,974. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group boosted their price objective on AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Barclays boosted their price objective on AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet cut AutoZone from a “c” rating to a “d+” rating in a research note on Wednesday, December 20th. Finally, JPMorgan Chase & Co. upped their target price on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $3,080.72.

AutoZone Stock Up 0.0 %

Shares of NYSE AZO opened at $3,192.79 on Thursday. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 22.48, a PEG 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 business’s 50 day moving average is $2,902.37 and its two-hundred day moving average is $2,695.82.

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

AutoZone Company 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.