Farther Finance Advisors LLC Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Farther Finance Advisors LLC reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 9.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68 shares of the company’s stock after selling 7 shares during the period. Farther Finance Advisors LLC’s holdings in AutoZone were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AZO. Proficio Capital Partners LLC boosted its position 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 period. Strategic Financial Concepts LLC purchased a new position in shares of AutoZone during the fourth quarter worth $471,629,000. Wealthfront Advisers LLC boosted its position in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock worth $290,281,000 after buying an additional 89,190 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after buying an additional 60,483 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of AutoZone during the fourth quarter worth $189,483,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In other AutoZone news, VP Dennis W. Leriche sold 1,575 shares of AutoZone stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the sale, the vice president now owns 417 shares of the company’s stock, valued at approximately $1,501,200. The trade was a 79.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now directly owns 50 shares in the company, valued at $177,500. This represents a 76.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,871 shares of company stock worth $6,720,811 in the last quarter. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

AZO has been the subject of a number of recent research reports. BMO Capital Markets lifted their target price on AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Morgan Stanley lifted their target price on AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their target price on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Truist Financial lifted their target price on AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, UBS Group lifted their target price on AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3,651.91.

AutoZone Stock Performance

AZO opened at $3,591.60 on Thursday. The stock has a market capitalization of $60.27 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,704.43. The business’s 50-day simple moving average is $3,420.93 and its 200-day simple moving average is $3,252.77.

AutoZone (NYSE:AZO) last issued its quarterly earnings results 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 company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS 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.