Legacy Bridge LLC Acquires New Holdings in AutoZone, Inc. (NYSE:AZO)

Legacy Bridge LLC acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO – Get Rating) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 13 shares of the company’s stock, valued at approximately $32,000.

Other institutional investors also recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC boosted its holdings in AutoZone by 15.3% in the second quarter. Beacon Pointe Advisors LLC now owns 219 shares of the company’s stock worth $467,000 after acquiring an additional 29 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in AutoZone by 184.8% in the third quarter. Wedbush Securities Inc. now owns 467 shares of the company’s stock worth $1,000,000 after acquiring an additional 303 shares in the last quarter. Bridgewater Associates LP acquired a new stake in AutoZone in the second quarter worth about $6,316,000. Calamos Advisors LLC acquired a new stake in AutoZone in the third quarter worth about $7,775,000. Finally, ExodusPoint Capital Management LP boosted its holdings in AutoZone by 162.4% in the third quarter. ExodusPoint Capital Management LP now owns 1,249 shares of the company’s stock worth $2,675,000 after acquiring an additional 773 shares in the last quarter. Institutional investors own 91.12% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $2,365.00 on Friday. The stock has a market capitalization of $44.39 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.65 and a beta of 0.69. AutoZone, Inc. has a 12 month low of $1,703.32 and a 12 month high of $2,610.05. The business has a 50 day simple moving average of $2,452.02 and a 200-day simple moving average of $2,386.42.

AutoZone (NYSE:AZO – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $24.64 EPS for the quarter, beating analysts’ consensus estimates of $21.33 by $3.31. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.56 billion. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $22.30 earnings per share. On average, equities research analysts anticipate that AutoZone, Inc. will post 127.64 EPS for the current fiscal year.

Analyst Ratings Changes

AZO has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on AutoZone from $2,450.00 to $2,850.00 and gave the stock an “overweight” rating in a report on Tuesday, November 29th. Wedbush raised their price objective on AutoZone from $2,350.00 to $2,600.00 in a research note on Monday, November 28th. StockNews.com began coverage on AutoZone in a research note on Thursday. They issued a “buy” rating for the company. Barclays began coverage on AutoZone in a research note on Tuesday, February 7th. They issued an “overweight” rating and a $2,663.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective on AutoZone from $2,563.00 to $2,899.00 and gave the stock a “buy” rating in a research note on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $2,652.76.

Insider Activity

In other news, CEO William C. Rhodes III sold 29,511 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $2,427.27, for a total value of $71,631,164.97. Following the completion of the sale, the chief executive officer now directly owns 14,825 shares in the company, valued at $35,984,277.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William C. Rhodes III sold 29,511 shares of AutoZone stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $2,427.27, for a total value of $71,631,164.97. Following the sale, the chief executive officer now directly owns 14,825 shares of the company’s stock, valued at $35,984,277.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Grant E. Mcgee sold 1,575 shares of AutoZone stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $2,511.63, for a total value of $3,955,817.25. Following the completion of the sale, the vice president now directly owns 246 shares in the company, valued at $617,860.98. The disclosure for this sale can be found here. Insiders sold 38,872 shares of company stock worth $94,603,027 over the last three months. 2.59% of the stock is currently owned by corporate insiders.

About AutoZone

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.