Vicus Capital Acquires New Holdings in AutoZone, Inc. (NYSE:AZO)

Vicus Capital acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 64 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of AutoZone during the first quarter valued at about $32,000. Riverview Trust Co bought a new stake in shares of AutoZone during the first quarter valued at about $41,000. Turtle Creek Wealth Advisors LLC bought a new stake in AutoZone in the fourth quarter worth about $54,000. Private Wealth Management Group LLC acquired a new stake in AutoZone in the 4th quarter valued at about $54,000. Finally, Quarry LP acquired a new stake in AutoZone in the 4th quarter valued at about $70,000. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Jenna M. Bedsole acquired 36 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the acquisition, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AZO shares. Truist Financial cut their price target on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Citigroup cut their price target on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Wolfe Research cut their price target on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Morgan Stanley cut their price target on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a report on Wednesday, May 22nd. Finally, Barclays cut their price target on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $3,112.88.

AutoZone Stock Performance

Shares of NYSE AZO traded up $8.70 during mid-day trading on Friday, reaching $2,964.10. The company had a trading volume of 188,441 shares, compared to its average volume of 145,426. The stock has a fifty day moving average of $2,894.37 and a two-hundred day moving average of $2,864.56. The company has a market capitalization of $50.63 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.49 and a beta of 0.71. AutoZone, Inc. has a 12-month low of $2,375.35 and a 12-month high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the prior year, the firm earned $34.12 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that AutoZone, Inc. will post 151.57 earnings per share 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.