Verde Capital Management Has $3.56 Million Stake in AutoZone, Inc. $AZO

Verde Capital Management grew its position in AutoZone, Inc. (NYSE:AZO) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 959 shares of the company’s stock after purchasing an additional 48 shares during the quarter. AutoZone comprises approximately 0.9% of Verde Capital Management’s investment portfolio, making the stock its 23rd biggest position. Verde Capital Management’s holdings in AutoZone were worth $3,560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaCore Capital LLC acquired a new position in shares of AutoZone in the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in AutoZone during the first quarter worth approximately $27,000. Financial Network Wealth Advisors LLC grew its position in AutoZone by 66.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after buying an additional 4 shares in the last quarter. Cornerstone Planning Group LLC acquired a new stake in AutoZone during the first quarter worth approximately $44,000. Finally, Clearstead Trust LLC acquired a new stake in AutoZone during the first quarter worth approximately $46,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Down 0.6%

AutoZone stock opened at $4,327.37 on Friday. The stock has a market cap of $72.62 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.30 and a beta of 0.41. The company’s 50 day moving average price is $3,989.84 and its two-hundred day moving average price is $3,776.14. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,388.11.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president owned 2,925 shares of the company’s stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of the business’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AZO. Roth Capital set a $4,135.00 price target on AutoZone and gave the stock a “buy” rating in a research report on Monday, June 2nd. Barclays raised their target price on AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company set a $4,200.00 price target on AutoZone and gave the company an “overweight” rating in a research note on Monday, May 19th. Truist Financial set a $3,995.00 price target on AutoZone in a research note on Friday, May 23rd. Finally, DA Davidson raised their target price on AutoZone from $4,192.00 to $4,850.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $4,229.38.

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.