Kendall Capital Management Purchases New Position in AutoZone, Inc. (NYSE:AZO)

Kendall Capital Management purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the 4th quarter, HoldingsChannel reports. The firm purchased 78 shares of the company’s stock, valued at approximately $250,000.

Other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC boosted its position in AutoZone by 482,040.2% during the fourth 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 bought a new stake in AutoZone during the fourth quarter worth approximately $471,629,000. The Manufacturers Life Insurance Company boosted 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 worth $292,544,000 after purchasing an additional 60,483 shares during the period. Raymond James Financial Inc. bought a new stake in AutoZone during the fourth quarter worth approximately $189,483,000. Finally, Canoe Financial LP boosted its position in AutoZone by 542.8% during the fourth quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after purchasing an additional 52,753 shares during the period. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now directly owns 50 shares in the company, valued at approximately $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AZO. JPMorgan Chase & Co. upped their target price on AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Citigroup upped their target price on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Bank of America upped their target price on AutoZone from $3,600.00 to $3,700.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Barclays upped their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Finally, Truist Financial upped their price target on AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. One equities 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 given a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $3,646.62.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,620.28 on Monday. The stock has a market cap of $60.76 billion, a PE ratio of 24.19, a PEG ratio of 1.86 and a beta of 0.71. The business has a fifty day moving average of $3,365.96 and a two-hundred day moving average of $3,230.04. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,636.96.

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