AutoZone, Inc. (NYSE:AZO) Shares Sold by Mercer Global Advisors Inc. ADV

Posted by on May 15th, 2023

Mercer Global Advisors Inc. ADV cut its holdings in shares of AutoZone, Inc. (NYSE:AZO – Get Rating) by 26.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,382 shares of the company’s stock after selling 490 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in AutoZone were worth $3,408,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AZO. Robbins Farley acquired a new stake in AutoZone in the 3rd quarter valued at about $26,000. AdvisorNet Financial Inc lifted its position in shares of AutoZone by 83.3% during the 4th quarter. AdvisorNet Financial Inc now owns 11 shares of the company’s stock worth $27,000 after purchasing an additional 5 shares during the last quarter. RFP Financial Group LLC purchased a new stake in shares of AutoZone during the 4th quarter worth $27,000. WD Rutherford LLC acquired a new stake in AutoZone in the third quarter valued at $32,000. Finally, Legacy Bridge LLC acquired a new stake in AutoZone in the fourth quarter valued at $32,000. 91.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AZO. Truist Financial increased their price objective on AutoZone from $2,800.00 to $2,878.00 in a report on Wednesday, March 1st. StockNews.com assumed coverage on shares of AutoZone in a research report on Thursday, March 16th. They set a “buy” rating for the company. Roth Capital reiterated a “buy” rating on shares of AutoZone in a research note on Tuesday, February 28th. JPMorgan Chase & Co. raised their price objective on AutoZone from $2,750.00 to $2,975.00 in a report on Friday. Finally, The Goldman Sachs Group upped their target price on AutoZone from $2,563.00 to $2,899.00 and gave the company a “buy” rating in a research report 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 issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,683.06.

AutoZone Stock Up 0.5 %

Shares of AZO opened at $2,729.06 on Monday. The company has a 50-day simple moving average of $2,548.79 and a 200-day simple moving average of $2,493.68. AutoZone, Inc. has a 52-week low of $1,703.32 and a 52-week high of $2,750.00. The company has a market capitalization of $50.21 billion, a PE ratio of 22.44, a P/E/G ratio of 1.84 and a beta of 0.68.

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

Insider Buying and Selling at AutoZone

In related news, VP Dennis W. Leriche sold 1,420 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $2,573.04, for a total value of $3,653,716.80. Following the sale, the vice president now owns 379 shares of the company’s stock, valued at approximately $975,182.16. The transaction was disclosed in a filing with the SEC, which is available through this link. In other AutoZone news, CEO William C. Rhodes III sold 29,511 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dennis W. Leriche sold 1,420 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $2,573.04, for a total transaction of $3,653,716.80. Following the transaction, the vice president now directly owns 379 shares in the company, valued at approximately $975,182.16. The disclosure for this sale can be found here. In the last three months, insiders sold 36,960 shares of company stock worth $90,128,092. 2.59% of the stock is owned by corporate insiders.

AutoZone Company Profile

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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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