EverSource Wealth Advisors LLC Has $10.21 Million Holdings in AutoZone, Inc. $AZO

EverSource Wealth Advisors LLC grew its holdings in AutoZone, Inc. (NYSE:AZO) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,025 shares of the company’s stock after purchasing an additional 234 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in AutoZone were worth $10,215,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone during the third quarter worth approximately $25,000. Torren Management LLC bought a new position in AutoZone in the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC grew its holdings in AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after acquiring an additional 4 shares during the period. MCF Advisors LLC grew its holdings in AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after acquiring an additional 3 shares during the period. Finally, Bard Associates Inc. acquired a new stake in AutoZone during the 4th quarter worth $31,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Trading Up 1.4%

AZO opened at $3,117.96 on Wednesday. The stock’s fifty day simple moving average is $3,091.09 and its 200 day simple moving average is $3,400.36. AutoZone, Inc. has a 1-year low of $2,902.20 and a 1-year high of $4,388.11. The stock has a market cap of $50.92 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.56 and a beta of 0.33.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the business posted $35.36 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its Board of Directors has initiated a stock buyback program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

AZO has been the topic of a number of analyst reports. TD Cowen reissued a “buy” rating and issued a $3,700.00 price target on shares of AutoZone in a research note on Thursday, June 4th. Weiss Ratings lowered shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Mizuho reduced their target price on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Finally, Evercore reissued an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.

Insider Activity

In related news, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the acquisition, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This represents a 15.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.