AutoZone, Inc. $AZO Shares Purchased by Blue Zone Wealth Advisors LLC

Blue Zone Wealth Advisors LLC increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,326 shares of the company’s stock after purchasing an additional 21 shares during the period. AutoZone accounts for about 2.2% of Blue Zone Wealth Advisors LLC’s holdings, making the stock its 10th biggest holding. Blue Zone Wealth Advisors LLC’s holdings in AutoZone were worth $8,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC increased its position in AutoZone by 2.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company’s stock worth $538,000 after purchasing an additional 3 shares during the last quarter. Focus Financial Network Inc. increased its position in AutoZone by 2.9% during the first quarter. Focus Financial Network Inc. now owns 105 shares of the company’s stock worth $400,000 after purchasing an additional 3 shares during the last quarter. Blue Trust Inc. increased its position in AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company’s stock worth $339,000 after purchasing an additional 3 shares during the last quarter. Rappaport Reiches Capital Management LLC increased its position in shares of AutoZone by 4.8% during the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company’s stock valued at $252,000 after acquiring an additional 3 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased its position in shares of AutoZone by 30.0% during the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company’s stock valued at $50,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the transaction, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This represents a 69.69% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

AutoZone Stock Performance

Shares of AZO stock opened at $4,076.62 on Friday. The stock has a market capitalization of $68.41 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 1.87 and a beta of 0.40. The company has a 50 day moving average price of $4,149.74 and a 200 day moving average price of $3,856.03. AutoZone, Inc. has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $51.58 EPS. On average, research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AZO. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Mizuho lifted their price target on shares of AutoZone from $3,740.00 to $4,050.00 and gave the company an “outperform” rating in a research report on Thursday, July 3rd. BNP Paribas Exane lifted their price target on shares of AutoZone from $4,155.00 to $4,811.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Raymond James Financial dropped their price target on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating for the company in a research report on Wednesday, September 24th. Finally, Guggenheim lifted their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4,544.68.

About AutoZone

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.