AGP Franklin LLC Takes Position in AutoZone, Inc. (NYSE:AZO)

AGP Franklin LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 785 shares of the company's stock, valued at approximately $2,514,000. AutoZone accounts for about 1.5% of AGP Franklin LLC's holdings, making the stock its 24th largest position.

A number of other hedge funds also recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in AutoZone in the fourth quarter worth approximately $29,000. Flagship Wealth Advisors LLC bought a new position in AutoZone during the fourth quarter worth $32,000. Harbour Investments Inc. grew its holdings in AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after purchasing an additional 3 shares during the period. Crews Bank & Trust bought a new stake in AutoZone in the fourth quarter valued at $61,000. Finally, McIlrath & Eck LLC raised its holdings in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after purchasing an additional 4 shares during the period. 92.74% of the stock is currently owned by institutional investors.

AutoZone Trading Up 1.0 %

Shares of AutoZone stock traded up $34.43 on Friday, reaching $3,601.29. The stock had a trading volume of 84,319 shares, compared to its average volume of 132,674. The business's 50 day moving average is $3,573.52 and its two-hundred day moving average is $3,341.79. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,916.81. The company has a market cap of $60.44 billion, a P/E ratio of 24.06, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the subject of a number of research analyst reports. Truist Financial boosted their target price on AutoZone from $3,753.00 to $3,841.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. DA Davidson upgraded AutoZone from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $3,500.00 to $4,192.00 in a report on Friday, March 21st. Guggenheim increased their target price on AutoZone from $3,750.00 to $3,850.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Evercore ISI boosted their price target on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. Finally, Argus downgraded shares of AutoZone from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $3,724.00.

Insider Transactions at AutoZone

In other AutoZone news, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the sale, the chief executive officer now directly owns 163 shares in the company, valued at $619,401.63. The trade was a 92.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares in the company, valued at $177,500. The trade was a 76.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,721 shares of company stock valued at $24,609,331. 2.10% of the stock is owned by corporate insiders.

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.