Kestra Private Wealth Services LLC boosted its stake in shares of AutoZone, Inc. (NYSE:AZO – Free Report) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,624 shares of the company’s stock after buying an additional 54 shares during the period. Kestra Private Wealth Services LLC’s holdings in AutoZone were worth $6,543,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Independence Bank of Kentucky bought a new stake in shares of AutoZone in the 2nd quarter worth $25,000. Ameritas Advisory Services LLC bought a new stake in shares of AutoZone in the 1st quarter worth $27,000. MUFG Americas Holdings Corp boosted its stake in shares of AutoZone by 166.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after buying an additional 10 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of AutoZone in the 2nd quarter worth $40,000. Finally, HWG Holdings LP purchased a new position in shares of AutoZone in the 1st quarter worth $44,000. Institutional investors own 90.34% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on AZO. TD Cowen assumed coverage on AutoZone in a research note on Tuesday, October 10th. They issued an “outperform” rating and a $2,975.00 price target on the stock. Oppenheimer downgraded AutoZone from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $2,850.00 to $2,600.00 in a research report on Friday, October 6th. Truist Financial lowered their target price on AutoZone from $3,006.00 to $2,863.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Barclays lifted their target price on AutoZone from $2,721.00 to $2,742.00 and gave the company an “overweight” rating in a research report on Wednesday, September 20th. Finally, Wedbush reissued an “outperform” rating and set a $2,750.00 price target on shares of AutoZone in a report on Wednesday, September 20th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,793.95.
Insider Buying and Selling at AutoZone
In related news, SVP Preston Frazer sold 6,754 shares of AutoZone stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $2,476.97, for a total value of $16,729,455.38. Following the completion of the transaction, the senior vice president now owns 709 shares in the company, valued at approximately $1,756,171.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Preston Frazer sold 6,754 shares of AutoZone stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $2,476.97, for a total value of $16,729,455.38. Following the completion of the transaction, the senior vice president now owns 709 shares in the company, valued at approximately $1,756,171.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Domingo Hurtado sold 120 shares of AutoZone stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $2,548.03, for a total value of $305,763.60. Following the completion of the sale, the vice president now owns 156 shares in the company, valued at $397,492.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,069 shares of company stock valued at $30,651,562. 2.50% of the stock is owned by insiders.
AutoZone Trading Up 0.4 %
Shares of AZO stock traded up $10.97 during trading hours on Friday, reaching $2,689.93. 23,204 shares of the company’s stock were exchanged, compared to its average volume of 154,653. The stock’s 50 day moving average is $2,543.99 and its 200-day moving average is $2,523.78. AutoZone, Inc. has a fifty-two week low of $2,277.88 and a fifty-two week high of $2,750.00. The company has a market cap of $47.42 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.41 and a beta of 0.65.
AutoZone (NYSE:AZO – Get Free Report) last released its earnings results on Tuesday, September 19th. The company reported $46.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.51 by $1.95. AutoZone had a negative return on equity of 60.66% and a net margin of 14.48%. The firm had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the prior year, the firm earned $40.51 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. Equities analysts anticipate that AutoZone, Inc. will post 147.6 EPS for the current year.
AutoZone Company Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.
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