Sound Income Strategies LLC Buys 20 Shares of AutoZone, Inc. (NYSE:AZO)

Sound Income Strategies LLC grew its stake in shares of AutoZone, Inc. (NYSE:AZO – Get Rating) by 74.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 47 shares of the company’s stock after acquiring an additional 20 shares during the period. Sound Income Strategies LLC’s holdings in AutoZone were worth $116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Belmont Capital LLC bought a new stake in AutoZone during the 3rd quarter worth approximately $26,000. Robbins Farley bought a new position in shares of AutoZone in the third quarter worth $26,000. WD Rutherford LLC purchased a new stake in shares of AutoZone in the third quarter worth $32,000. MUFG Americas Holdings Corp boosted its stake in AutoZone by 166.7% during the third quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock valued at $34,000 after buying an additional 10 shares during the period. Finally, Larson Financial Group LLC grew its position in AutoZone by 142.9% during the third quarter. Larson Financial Group LLC now owns 17 shares of the company’s stock worth $36,000 after buying an additional 10 shares in the last quarter. 91.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In other AutoZone news, VP Grant E. Mcgee sold 500 shares of the stock in a transaction that occurred on Thursday, December 22nd. The stock was sold at an average price of $2,400.00, for a total value of $1,200,000.00. Following the completion of the sale, the vice president now owns 244 shares in the company, valued at approximately $585,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Grant E. Mcgee sold 500 shares of the company’s stock in a transaction that occurred on Thursday, December 22nd. The stock was sold at an average price of $2,400.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the vice president now owns 244 shares in the company, valued at $585,600. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William C. Rhodes III sold 29,511 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $2,427.27, for a total value of $71,631,164.97. Following the completion of the sale, the chief executive officer now directly owns 14,825 shares of the company’s stock, valued at approximately $35,984,277.75. The disclosure for this sale can be found here. Insiders have sold a total of 38,872 shares of company stock worth $94,603,027 in the last 90 days. Company insiders own 2.59% of the company’s stock.

AutoZone Stock Down 2.0 %

NYSE:AZO opened at $2,365.00 on Friday. The firm has a market capitalization of $44.39 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.65 and a beta of 0.69. The company has a fifty day moving average of $2,452.02 and a 200 day moving average of $2,386.42. AutoZone, Inc. has a 52 week low of $1,703.32 and a 52 week high of $2,610.05.

AutoZone (NYSE:AZO – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported $24.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $21.33 by $3.31. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.56 billion. AutoZone had a net margin of 14.32% and a negative return on equity of 64.72%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $22.30 earnings per share. As a group, analysts anticipate that AutoZone, Inc. will post 127.64 EPS for the current year.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. Citigroup lifted their price target on AutoZone from $2,520.00 to $2,782.00 in a research report on Wednesday, December 7th. DA Davidson lifted their price objective on shares of AutoZone from $1,950.00 to $2,360.00 in a report on Wednesday, December 7th. Roth Capital reissued a “buy” rating on shares of AutoZone in a research note on Tuesday, February 28th. Stephens raised their price target on AutoZone to $2,800.00 in a research report on Friday, December 2nd. Finally, Guggenheim upgraded AutoZone from a “neutral” rating to a “buy” rating and set a $2,735.00 price objective for the company in a report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,652.76.

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.