Peapack Gladstone Financial Corp Purchases 87 Shares of AutoZone, Inc. (NYSE:AZO)

Peapack Gladstone Financial Corp grew its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 465 shares of the company's stock after acquiring an additional 87 shares during the quarter. Peapack Gladstone Financial Corp's holdings in AutoZone were worth $1,489,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on AZO. Truist Financial lifted their price target on AutoZone from $3,753.00 to $3,841.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Guggenheim lifted their target price on AutoZone from $3,750.00 to $3,850.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Raymond James restated a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, March 5th. Bank of America lifted their price objective on shares of AutoZone from $3,600.00 to $3,700.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. Finally, Argus lowered shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, AutoZone presently has a consensus rating of "Moderate Buy" and a consensus price target of $3,724.00.

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Insider Activity

In other news, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction dated 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 transaction, the chief executive officer now directly owns 163 shares in the company, valued at $619,401.63. This trade represents a 92.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the sale, the senior vice president now owns 403 shares in the company, valued at $1,430,682.24. This represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,721 shares of company stock worth $24,609,331. Company insiders own 2.10% of the company's stock.

AutoZone Trading Up 1.1 %

AZO stock traded up $40.85 during midday trading on Friday, hitting $3,656.09. The stock had a trading volume of 144,421 shares, compared to its average volume of 133,434. The firm has a market cap of $61.36 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. The business has a fifty day moving average price of $3,556.50 and a two-hundred day moving average price of $3,325.86. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, March 4th. The company reported $28.29 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 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.