Marco Investment Management LLC Has $5.21 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Marco Investment Management LLC raised its holdings in AutoZone, Inc. (NYSE:AZO) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,015 shares of the company’s stock after acquiring an additional 19 shares during the quarter. Marco Investment Management LLC’s holdings in AutoZone were worth $5,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rock Creek Group LP acquired a new position in AutoZone in the 3rd quarter valued at approximately $25,000. ORG Partners LLC acquired a new position in AutoZone in the 3rd quarter valued at approximately $43,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in AutoZone in the 3rd quarter valued at approximately $51,000. Turtle Creek Wealth Advisors LLC acquired a new position in AutoZone in the 4th quarter valued at approximately $54,000. Finally, Steward Financial Group LLC increased its position in AutoZone by 66.7% in the 3rd quarter. Steward Financial Group LLC now owns 25 shares of the company’s stock valued at $63,000 after acquiring an additional 10 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the sale, the vice president now owns 2,921 shares in the company, valued at $8,756,456.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total value of $8,993,280.00. Following the completion of the sale, the vice president now owns 2,921 shares in the company, valued at $8,756,456.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Philip B. Daniele sold 4,190 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total transaction of $13,247,439.20. Following the completion of the sale, the chief executive officer now owns 900 shares of the company’s stock, valued at approximately $2,845,512. The disclosure for this sale can be found here. Insiders sold a total of 15,990 shares of company stock worth $50,335,193 over the last quarter. Insiders own 2.50% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock traded up $0.73 during trading hours on Friday, reaching $2,945.98. The company’s stock had a trading volume of 115,841 shares, compared to its average volume of 128,387. AutoZone, Inc. has a one year low of $2,277.88 and a one year high of $3,256.37. The company has a market capitalization of $51.02 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.46 and a beta of 0.70. The stock’s fifty day simple moving average is $3,029.04 and its two-hundred day simple moving average is $2,775.45.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, beating analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period last year, the firm earned $24.64 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, research analysts forecast that AutoZone, Inc. will post 152.4 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wedbush increased their price objective on shares of AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Mizuho assumed coverage on shares of AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 price objective for the company. Barclays increased their price objective on shares of AutoZone from $2,779.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Truist Financial increased their price objective on shares of AutoZone from $3,363.00 to $3,523.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3,086.61.

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.