Hudson Valley Investment Advisors Inc. ADV Lowers Position in AutoZone, Inc. (NYSE:AZO)

Hudson Valley Investment Advisors Inc. ADV cut its holdings in AutoZone, Inc. (NYSE:AZOFree Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,623 shares of the company’s stock after selling 58 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in AutoZone were worth $4,145,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AZO. RB Capital Management LLC purchased a new stake in shares of AutoZone during the first quarter valued at about $274,000. Fairfield Bush & CO. purchased a new stake in shares of AutoZone during the first quarter valued at about $57,000. Roundview Capital LLC lifted its position in shares of AutoZone by 8.1% during the first quarter. Roundview Capital LLC now owns 426 shares of the company’s stock valued at $871,000 after buying an additional 32 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in shares of AutoZone by 31.7% during the first quarter. Cetera Advisor Networks LLC now owns 237 shares of the company’s stock valued at $485,000 after buying an additional 57 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of AutoZone by 24.4% during the first quarter. Sei Investments Co. now owns 12,966 shares of the company’s stock valued at $26,331,000 after buying an additional 2,545 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,239.32 on Friday. The stock has a market capitalization of $56.04 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.70 and a beta of 0.70. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,256.37. The firm’s 50 day simple moving average is $2,879.90 and its 200-day simple moving average is $2,686.74.

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

Analysts Set New Price Targets

AZO has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Raymond James raised shares of AutoZone from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $2,850.00 to $3,100.00 in a research report on Wednesday, December 6th. Truist Financial increased their price objective on shares of AutoZone from $3,027.00 to $3,363.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Mizuho assumed coverage on shares of AutoZone in a research report on Tuesday, March 19th. They issued a “buy” rating and a $3,450.00 price objective for the company. Finally, TheStreet lowered shares of AutoZone from a “c” rating to a “d+” rating in a research report on Wednesday, December 20th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,044.61.

View Our Latest Research Report on AZO

Insider Activity at AutoZone

In related news, COO Thomas B. Newbern sold 7,800 shares of AutoZone stock in a transaction on Friday, January 5th. The shares were sold at an average price of $2,551.62, for a total value of $19,902,636.00. Following the sale, the chief operating officer now owns 2,519 shares of the company’s stock, valued at approximately $6,427,530.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Eric S. Gould sold 2,100 shares of AutoZone 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 sale, the vice president now owns 910 shares of the company’s stock, valued at approximately $2,912,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas B. Newbern sold 7,800 shares of AutoZone stock in a transaction on Friday, January 5th. The shares were sold at an average price of $2,551.62, for a total transaction of $19,902,636.00. Following the completion of the sale, the chief operating officer now directly owns 2,519 shares in the company, valued at approximately $6,427,530.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,097 shares of company stock valued at $59,636,500. 2.50% of the stock is owned by company insiders.

AutoZone 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.

Further Reading

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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