Norden Group LLC Purchases Shares of 351 AutoZone, Inc. (NYSE:AZO)

Norden Group LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 351 shares of the company’s stock, valued at approximately $1,106,000.

A number of other large investors also recently modified their holdings of the stock. Rise Advisors LLC bought a new position in AutoZone during the 1st quarter valued at $32,000. Riverview Trust Co bought a new stake in AutoZone in the 1st quarter worth about $41,000. Turtle Creek Wealth Advisors LLC purchased a new stake in AutoZone in the 4th quarter valued at about $54,000. Private Wealth Management Group LLC bought a new position in shares of AutoZone during the 4th quarter worth approximately $54,000. Finally, Quarry LP bought a new stake in AutoZone during the fourth quarter worth $70,000. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays decreased their price objective 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. Truist Financial lowered their price target on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Wedbush reduced their price objective on AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Citigroup lowered their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Finally, Morgan Stanley cut their price target on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

Insider Transactions at AutoZone

In other news, VP Jenna M. Bedsole acquired 36 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the acquisition, the vice president now owns 36 shares in the company, valued at approximately $99,255.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

AutoZone Stock Performance

AutoZone stock traded down $32.11 during mid-day trading on Friday, hitting $2,812.77. 83,197 shares of the company traded hands, compared to its average volume of 152,832. The stock has a fifty day moving average price of $2,884.88 and a 200-day moving average price of $2,868.29. The stock has a market cap of $48.04 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $34.12 EPS. Sell-side analysts predict that AutoZone, Inc. will post 151.57 EPS 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.