Kings Path Partners LLC Invests $1.07 Million in AutoZone, Inc. (NYSE:AZO)

Kings Path Partners LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 335 shares of the company’s stock, valued at approximately $1,073,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Brighton Jones LLC increased its position in shares of AutoZone by 4.1% during the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock worth $299,000 after purchasing an additional 4 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in AutoZone by 2.6% during the 2nd quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock worth $490,000 after purchasing an additional 4 shares during the last quarter. Petredis Investment Advisors LLC grew its holdings in shares of AutoZone by 0.6% during the third quarter. Petredis Investment Advisors LLC now owns 710 shares of the company’s stock worth $2,237,000 after buying an additional 4 shares in the last quarter. IVC Wealth Advisors LLC raised its position in shares of AutoZone by 4.4% in the third quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock valued at $299,000 after buying an additional 4 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of AutoZone by 5.0% in the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock worth $265,000 after buying an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

AZO stock traded up $31.72 during mid-day trading on Monday, reaching $3,300.50. The company had a trading volume of 66,522 shares, compared to its average volume of 94,323. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,416.71. The company has a market capitalization of $55.39 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. The firm has a fifty day simple moving average of $3,187.85 and a 200 day simple moving average of $3,114.26.

AutoZone (NYSE:AZO) last posted its quarterly earnings results 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). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the business earned $32.55 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that AutoZone, Inc. will post 154.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on AZO shares. Roth Mkm reiterated a “buy” rating and issued a $3,634.00 price objective on shares of AutoZone in a report on Wednesday, October 16th. Roth Capital upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Wedbush reiterated an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. Finally, DA Davidson reissued a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $3,400.32.

Insiders Place Their Bets

In other news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. The trade was a 48.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

AutoZone 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.