Atlantic Union Bankshares Corp Has $4.20 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Atlantic Union Bankshares Corp grew its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,311 shares of the company's stock after buying an additional 72 shares during the quarter. Atlantic Union Bankshares Corp's holdings in AutoZone were worth $4,198,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZO. Proficio Capital Partners LLC grew its stake in shares of AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock worth $1,343,117,000 after buying an additional 419,375 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of AutoZone in the fourth quarter worth $471,629,000. The Manufacturers Life Insurance Company grew its stake in shares of AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of AutoZone in the fourth quarter worth $189,483,000. Finally, Canoe Financial LP grew its stake in shares of AutoZone by 542.8% in the fourth quarter. Canoe Financial LP now owns 62,471 shares of the company's stock worth $200,032,000 after purchasing an additional 52,753 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Transactions at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the transaction, the senior vice president now owns 50 shares in the company, valued at $177,500. The trade was a 76.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

AZO has been the topic of several analyst reports. Raymond James boosted their price objective on shares of AutoZone from $3,850.00 to $4,000.00 and gave the stock a "strong-buy" rating in a research note on Wednesday. Wells Fargo & Company boosted their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of AutoZone from $3,775.00 to $3,830.00 and gave the company an "overweight" rating in a research report on Wednesday. Guggenheim upped their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Truist Financial upped their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $3,646.62.

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AutoZone Stock Performance

AZO stock opened at $3,620.28 on Friday. The company has a market capitalization of $60.76 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,636.96. The business has a 50-day simple moving average of $3,365.96 and a two-hundred day simple moving average of $3,229.56.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

About AutoZone

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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