Sound View Wealth Advisors Group LLC Raises Holdings in AutoZone, Inc. (NYSE:AZO)

Sound View Wealth Advisors Group LLC boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152 shares of the company’s stock after acquiring an additional 3 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in AutoZone were worth $487,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC grew its stake in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after purchasing an additional 419,375 shares during the period. Strategic Financial Concepts LLC purchased a new stake in AutoZone during the fourth quarter worth $471,629,000. The Manufacturers Life Insurance Company grew its position in AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after buying an additional 60,483 shares during the period. Raymond James Financial Inc. purchased a new position in AutoZone in the fourth quarter valued at $189,483,000. Finally, Canoe Financial LP raised its position in shares of AutoZone by 542.8% in the fourth quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after acquiring an additional 52,753 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,620.28 on Monday. The business’s 50 day moving average price is $3,365.96 and its 200 day moving average price is $3,230.04. The company has a market cap of $60.76 billion, a price-to-earnings ratio of 24.19, a PEG 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 $3,636.96.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. On average, analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of analyst reports. Roth Mkm raised their target price on AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. BMO Capital Markets raised their price objective on AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their target price on AutoZone from $3,750.00 to $3,850.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. TD Cowen increased their target price on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Guggenheim boosted their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,646.62.

Insider Buying and Selling at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of the firm’s 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 transaction of $568,000.00. Following the completion of the sale, the senior vice president now owns 50 shares in the company, valued at $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is currently owned by company insiders.

AutoZone Profile

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.