Janney Montgomery Scott LLC Purchases 47 Shares of AutoZone, Inc. (NYSE:AZO)

Posted by on Apr 23rd, 2023

Janney Montgomery Scott LLC increased its position in AutoZone, Inc. (NYSE:AZO – Get Rating) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,817 shares of the company’s stock after acquiring an additional 47 shares during the quarter. Janney Montgomery Scott LLC’s holdings in AutoZone were worth $4,481,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of AutoZone by 0.7% during the 3rd quarter. BlackRock Inc. now owns 1,521,550 shares of the company’s stock worth $3,259,055,000 after purchasing an additional 10,791 shares during the period. Royal Bank of Canada increased its holdings in shares of AutoZone by 2.6% during the 3rd quarter. Royal Bank of Canada now owns 466,179 shares of the company’s stock worth $998,521,000 after purchasing an additional 11,713 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of AutoZone by 24.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 141,802 shares of the company’s stock worth $303,731,000 after purchasing an additional 28,025 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of AutoZone by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 106,663 shares of the company’s stock worth $218,082,000 after purchasing an additional 506 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of AutoZone by 2.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 93,722 shares of the company’s stock worth $200,746,000 after purchasing an additional 2,213 shares during the period. Institutional investors own 91.12% of the company’s stock.

AutoZone Trading Down 0.8 %

Shares of AZO stock opened at $2,681.41 on Friday. AutoZone, Inc. has a 1 year low of $1,703.32 and a 1 year high of $2,722.60. The firm’s 50 day moving average is $2,505.83 and its 200-day moving average is $2,448.57. The firm has a market capitalization of $49.34 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.85 and a beta of 0.68.

AutoZone (NYSE:AZO – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $24.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $21.33 by $3.31. AutoZone had a net margin of 14.32% and a negative return on equity of 64.72%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the business earned $22.30 earnings per share. AutoZone’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that AutoZone, Inc. will post 127.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZO has been the topic of several research reports. Raymond James boosted their price objective on shares of AutoZone from $2,650.00 to $2,850.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group upped their target price on shares of AutoZone from $2,563.00 to $2,899.00 and gave the company a “buy” rating in a research note on Wednesday, March 1st. StockNews.com assumed coverage on shares of AutoZone in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Morgan Stanley upped their target price on shares of AutoZone from $2,725.00 to $2,800.00 and gave the company an “overweight” rating in a research note on Wednesday, March 1st. Finally, Barclays assumed coverage on shares of AutoZone in a research note on Tuesday, February 7th. They issued an “overweight” rating and a $2,663.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,664.53.

Insider Buying and Selling

In related news, VP William R. Hackney sold 2,724 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $2,394.45, for a total transaction of $6,522,481.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AutoZone news, VP William R. Hackney sold 2,724 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $2,394.45, for a total value of $6,522,481.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William C. Rhodes III sold 29,511 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $2,427.27, for a total transaction 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 approximately $35,984,277.75. The disclosure for this sale can be found here. Insiders sold a total of 36,960 shares of company stock valued at $90,128,092 over the last ninety days. Insiders own 2.59% of the company’s stock.

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.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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