Wealthfront Advisers LLC Buys 49 Shares of AutoZone, Inc. $AZO

Wealthfront Advisers LLC lifted its stake in AutoZone, Inc. (NYSE:AZO) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,518 shares of the company’s stock after buying an additional 49 shares during the quarter. Wealthfront Advisers LLC’s holdings in AutoZone were worth $5,635,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AZO. Venturi Wealth Management LLC lifted its stake in AutoZone by 1.2% in the 1st quarter. Venturi Wealth Management LLC now owns 246 shares of the company’s stock worth $938,000 after purchasing an additional 3 shares in the last quarter. Advisor OS LLC lifted its position in shares of AutoZone by 2.5% in the first quarter. Advisor OS LLC now owns 121 shares of the company’s stock worth $461,000 after buying an additional 3 shares in the last quarter. One Wealth Advisors LLC boosted its stake in AutoZone by 3.6% during the first quarter. One Wealth Advisors LLC now owns 87 shares of the company’s stock valued at $332,000 after buying an additional 3 shares during the last quarter. Flputnam Investment Management Co. boosted its stake in AutoZone by 3.2% during the first quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock valued at $366,000 after buying an additional 3 shares during the last quarter. Finally, McLean Asset Management Corp grew its holdings in AutoZone by 3.6% during the 2nd quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock valued at $320,000 after buying an additional 3 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,803.82 on Wednesday. AutoZone, Inc. has a 1 year low of $2,980.10 and a 1 year high of $4,388.11. The firm has a 50-day simple moving average of $4,130.69 and a two-hundred day simple moving average of $3,882.27. The company has a market cap of $63.83 billion, a P/E ratio of 26.25, a PEG ratio of 1.80 and a beta of 0.40.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the previous year, the company posted $51.58 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its board has approved a stock repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on AZO shares. Roth Capital reiterated a “buy” rating and set a $4,750.00 target price (down from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Barclays increased their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Rothschild & Co Redburn boosted their target price on shares of AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Cowen reaffirmed a “buy” rating on shares of AutoZone in a report on Thursday, September 18th. Finally, Wolfe Research started coverage on AutoZone in a research report on Thursday, September 18th. They issued an “outperform” rating and a $4,741.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,544.68.

Insiders Place Their Bets

In other news, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction 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 sale, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the transaction, the chief executive officer owned 55 shares in the company, valued at approximately $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.

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.