AXS Investments LLC Buys 26 Shares of AutoZone, Inc. (NYSE:AZO)

AXS Investments LLC grew its position in AutoZone, Inc. (NYSE:AZO) by 5.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 490 shares of the company’s stock after acquiring an additional 26 shares during the period. AXS Investments LLC’s holdings in AutoZone were worth $1,222,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in shares of AutoZone by 5,037.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,392,892 shares of the company’s stock valued at $58,264,000 after buying an additional 1,365,781 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after buying an additional 698,613 shares during the period. Gateway Advisory LLC lifted its stake in AutoZone by 250,309.8% in the first quarter. Gateway Advisory LLC now owns 535,877 shares of the company’s stock valued at $536,000 after buying an additional 535,663 shares during the period. Royal Bank of Canada grew its position in shares of AutoZone by 368.0% during the 1st quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock worth $841,242,000 after buying an additional 323,536 shares during the period. Finally, Norges Bank acquired a new position in shares of AutoZone during the 4th quarter valued at $658,788,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Activity at AutoZone

In other AutoZone news, SVP Preston Frazer sold 6,754 shares of AutoZone stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $2,476.97, for a total transaction of $16,729,455.38. Following the transaction, the senior vice president now directly owns 709 shares of the company’s stock, valued at $1,756,171.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AutoZone news, VP Domingo Hurtado sold 2,950 shares of AutoZone stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $2,640.84, for a total value of $7,790,478.00. Following the transaction, the vice president now directly owns 156 shares of the company’s stock, valued at approximately $411,971.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Preston Frazer sold 6,754 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $2,476.97, for a total transaction 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 disclosure for this sale can be found here. In the last three months, insiders have sold 12,069 shares of company stock valued at $30,651,562. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AZO shares. Oppenheimer cut shares of AutoZone from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $2,850.00 to $2,600.00 in a research report on Friday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $2,950.00 to $2,975.00 and gave the company an “overweight” rating in a research report on Wednesday, September 20th. Argus raised their price objective on shares of AutoZone from $2,775.00 to $2,920.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. Morgan Stanley decreased their target price on shares of AutoZone from $2,835.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Wednesday, September 20th. Finally, DA Davidson boosted their price objective on AutoZone from $2,425.00 to $2,500.00 and gave the stock a “neutral” rating in a report on Wednesday, September 20th. Four 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 a consensus target price of $2,793.95.

AutoZone Trading Down 1.2 %

Shares of AutoZone stock traded down $31.18 during trading on Friday, hitting $2,627.05. The stock had a trading volume of 152,820 shares, compared to its average volume of 155,549. The business’s 50-day moving average is $2,557.30 and its 200 day moving average is $2,524.21. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $2,750.00. The firm has a market cap of $46.31 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.43 and a beta of 0.65.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 19th. The company reported $46.46 earnings per share for the quarter, beating analysts’ consensus estimates of $44.51 by $1.95. The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.62 billion. AutoZone had a net margin of 14.48% and a negative return on equity of 60.66%. AutoZone’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $40.51 earnings per share. As a group, equities analysts expect 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 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.