Evoke Wealth LLC Sells 173 Shares of AutoZone, Inc. (NYSE:AZO)

Evoke Wealth LLC lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,149 shares of the company’s stock after selling 173 shares during the period. Evoke Wealth LLC’s holdings in AutoZone were worth $10,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in shares of AutoZone in the 4th quarter worth $32,000. Harbour Investments Inc. lifted its holdings in shares of AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after buying an additional 3 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of AutoZone during the 3rd quarter valued at about $47,000. Crews Bank & Trust bought a new stake in AutoZone in the 4th quarter worth approximately $61,000. Finally, McIlrath & Eck LLC raised its stake in AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after purchasing an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AZO shares. TD Cowen raised their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. DA Davidson lifted their price target on shares of AutoZone from $3,350.00 to $3,500.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. 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 report on Wednesday, March 5th. Evercore ISI boosted their price target on AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. Finally, Truist Financial lifted their price objective on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $3,651.91.

Insider Activity at AutoZone

In related news, SVP K. Michelle Borninkhof sold 136 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the sale, the senior vice president now directly owns 403 shares of the company’s stock, valued at $1,430,682.24. This trade represents a 25.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the sale, the senior vice president now directly owns 50 shares in the company, valued at $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,871 shares of company stock worth $6,720,811. Company insiders own 2.10% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,620.16 on Tuesday. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,704.43. The company’s 50 day moving average price is $3,408.03 and its 200 day moving average price is $3,247.36. The company has a market capitalization of $60.75 billion, a PE ratio of 24.19, a PEG ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 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.