RBA Wealth Management LLC Sells 31 Shares of AutoZone, Inc. (NYSE:AZO)

RBA Wealth Management LLC lessened its position in shares of AutoZone, Inc. (NYSE:AZO) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,366 shares of the company’s stock after selling 31 shares during the period. AutoZone accounts for 2.9% of RBA Wealth Management LLC’s holdings, making the stock its 5th biggest holding. RBA Wealth Management LLC’s holdings in AutoZone were worth $7,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of AutoZone during the 3rd quarter worth about $36,000. Carolina Wealth Advisors LLC purchased a new position in AutoZone in the third quarter worth approximately $47,000. Darwin Wealth Management LLC acquired a new position in AutoZone in the 3rd quarter valued at about $47,000. Crews Bank & Trust acquired a new position in AutoZone during the fourth quarter worth $61,000. Finally, McIlrath & Eck LLC boosted its holdings in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after acquiring an additional 4 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Trading Up 2.6 %

Shares of AZO stock opened at $3,437.77 on Tuesday. The company has a market capitalization of $57.69 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.85 and a beta of 0.71. The firm has a 50-day moving average price of $3,263.25 and a 200 day moving average price of $3,167.44. AutoZone, Inc. has a twelve month low of $2,672.31 and a twelve month high of $3,445.05.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $32.55 earnings per share. As a group, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

AZO has been the subject of several recent research reports. Citigroup increased their price objective on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Roth Mkm reiterated a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a report on Wednesday, October 16th. Truist Financial increased their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Evercore ISI lifted their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Company 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.