Merit Financial Group LLC Invests $215,000 in AutoZone, Inc. (NYSE:AZO)

Merit Financial Group LLC purchased a new position in AutoZone, Inc. (NYSE:AZOFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 83 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors also recently added to or reduced their stakes in AZO. International Assets Investment Management LLC grew its position in shares of AutoZone by 232,194.6% during the 4th quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock worth $1,891,963,000 after buying an additional 731,413 shares in the last quarter. Royal Bank of Canada increased its position in AutoZone by 1.3% during the 3rd quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock valued at $1,121,572,000 after purchasing an additional 5,650 shares during the period. Wellington Management Group LLP raised its holdings in shares of AutoZone by 111.4% in the 3rd quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after purchasing an additional 176,623 shares in the last quarter. Morgan Stanley lifted its position in shares of AutoZone by 4.5% in the 3rd quarter. Morgan Stanley now owns 259,964 shares of the company’s stock worth $660,309,000 after purchasing an additional 11,104 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of AutoZone by 0.7% during the third quarter. Northern Trust Corp now owns 212,376 shares of the company’s stock valued at $539,433,000 after purchasing an additional 1,516 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AZO stock opened at $2,987.05 on Friday. AutoZone, Inc. has a fifty-two week low of $2,277.88 and a fifty-two week high of $3,256.37. The firm has a market capitalization of $51.74 billion, a PE ratio of 21.03, a P/E/G ratio of 1.46 and a beta of 0.72. The stock’s 50-day simple moving average is $3,055.54 and its 200-day simple moving average is $2,796.28.

AutoZone (NYSE:AZOGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, topping the consensus estimate of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the prior year, the company earned $24.64 EPS. AutoZone’s quarterly revenue was up 4.6% on a year-over-year basis. Sell-side analysts forecast that AutoZone, Inc. will post 152.4 earnings per share for the current year.

Insider Buying and Selling

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the sale, the vice president now directly owns 2,921 shares of the company’s stock, valued at $8,756,456.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Eric S. Gould sold 2,100 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the completion of the transaction, the vice president now directly owns 910 shares in the company, valued at approximately $2,912,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the sale, the vice president now directly owns 2,921 shares in the company, valued at $8,756,456.96. The disclosure for this sale can be found here. Insiders sold a total of 15,990 shares of company stock valued at $50,335,193 over the last 90 days. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AZO shares. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Morgan Stanley raised their price objective on AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Evercore ISI reduced their target price on shares of AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. UBS Group increased their price target on shares of AutoZone from $3,100.00 to $3,425.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Citigroup cut their price objective on shares of AutoZone from $3,505.00 to $3,420.00 and set a “buy” rating on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,108.83.

Get Our Latest Stock Analysis on AZO

AutoZone Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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