FDx Advisors Inc. Cuts Position in AutoZone, Inc. (NYSE:AZO)

Posted by on May 22nd, 2023

FDx Advisors Inc. trimmed its holdings in AutoZone, Inc. (NYSE:AZO – Get Rating) by 14.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290 shares of the company’s stock after selling 50 shares during the quarter. FDx Advisors Inc.’s holdings in AutoZone were worth $715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AZO. Robbins Farley acquired a new position in AutoZone in the third quarter valued at approximately $26,000. AdvisorNet Financial Inc boosted its holdings in shares of AutoZone by 83.3% in the fourth quarter. AdvisorNet Financial Inc now owns 11 shares of the company’s stock valued at $27,000 after acquiring an additional 5 shares during the period. RFP Financial Group LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $27,000. Legacy Bridge LLC acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $32,000. Finally, MUFG Americas Holdings Corp boosted its holdings in shares of AutoZone by 166.7% in the third quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after acquiring an additional 10 shares during the period. 91.12% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Up 0.2 %

Shares of AZO stock opened at $2,653.18 on Monday. AutoZone, Inc. has a fifty-two week low of $1,703.32 and a fifty-two week high of $2,750.00. The stock has a market cap of $48.82 billion, a P/E ratio of 21.81, a P/E/G ratio of 1.81 and a beta of 0.68. The business has a fifty day simple moving average of $2,570.06 and a 200-day simple moving average of $2,498.97.

AutoZone (NYSE:AZO – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $24.64 earnings per share for the quarter, beating analysts’ consensus estimates of $21.33 by $3.31. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the business posted $22.30 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone, Inc. will post 127.94 earnings per share for the current year.

Insider Activity

In other news, VP Grant E. Mcgee sold 1,575 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 246 shares in the company, valued at $617,860.98. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, 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 owns 14,825 shares of the company’s stock, valued at $35,984,277.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Grant E. Mcgee sold 1,575 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of $2,511.63, for a total value of $3,955,817.25. Following the sale, the vice president now directly owns 246 shares in the company, valued at approximately $617,860.98. The disclosure for this sale can be found here. Insiders sold a total of 36,960 shares of company stock worth $90,128,092 over the last 90 days. 2.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AZO. The Goldman Sachs Group increased their price objective on AutoZone from $2,563.00 to $2,899.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Barclays assumed coverage on AutoZone in a research note on Tuesday, February 7th. They set an “overweight” rating and a $2,663.00 price target for the company. 51job restated a “maintains” rating on shares of AutoZone in a research note on Thursday, May 11th. Roth Capital restated a “buy” rating on shares of AutoZone in a research note on Tuesday, February 28th. Finally, StockNews.com assumed coverage on AutoZone in a research note on Thursday. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $2,712.06.

AutoZone 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.

See Also

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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