Wealthfront Advisers LLC Purchases 216 Shares of AutoZone, Inc. $AZO

Wealthfront Advisers LLC lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 13.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,820 shares of the company’s stock after buying an additional 216 shares during the quarter. Wealthfront Advisers LLC’s holdings in AutoZone were worth $6,148,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the 3rd quarter worth about $25,000. Torren Management LLC acquired a new position in shares of AutoZone in the 4th quarter valued at about $27,000. Transamerica Financial Advisors LLC lifted its stake in shares of AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares during the period. MCF Advisors LLC boosted its position in shares of AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after purchasing an additional 3 shares in the last quarter. Finally, Bard Associates Inc. bought a new stake in shares of AutoZone during the 4th quarter valued at about $31,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

AZO stock opened at $3,046.69 on Friday. The stock’s 50 day simple moving average is $3,142.61 and its 200 day simple moving average is $3,416.46. The company has a market cap of $49.74 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 1.55 and a beta of 0.33. AutoZone, Inc. has a fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $35.36 earnings per share. Equities analysts predict that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a share repurchase plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AZO shares. Mizuho lowered their target price on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Evercore reiterated an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. BNP Paribas Exane dropped their target price on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 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 transaction, the director owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

AutoZone Company 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.