High Note Wealth LLC Increases Stock Holdings in AutoZone, Inc. $AZO

High Note Wealth LLC lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,052 shares of the company’s stock after buying an additional 18 shares during the quarter. AutoZone comprises 1.7% of High Note Wealth LLC’s portfolio, making the stock its 19th largest position. High Note Wealth LLC’s holdings in AutoZone were worth $7,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in AutoZone by 7,358.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock worth $902,929,000 after purchasing an additional 239,970 shares during the period. Nuveen LLC bought a new position in AutoZone in the 1st quarter worth about $442,530,000. JPMorgan Chase & Co. grew its position in AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock valued at $3,570,296,000 after purchasing an additional 65,368 shares during the last quarter. Ninety One UK Ltd increased its stake in AutoZone by 349.5% during the 2nd quarter. Ninety One UK Ltd now owns 74,400 shares of the company’s stock valued at $276,190,000 after purchasing an additional 57,849 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in AutoZone by 30.4% in the first quarter. Goldman Sachs Group Inc. now owns 106,888 shares of the company’s stock worth $407,540,000 after buying an additional 24,933 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of recent analyst reports. UBS Group cut their price target on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Truist Financial lowered their price objective on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Evercore ISI lifted their target price on AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Mizuho boosted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the stock an “outperform” rating in a research note on Thursday, July 3rd. Finally, Roth Capital reaffirmed a “buy” rating and set a $4,750.00 price objective (down from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $4,538.21.

AutoZone Stock Performance

AZO stock opened at $4,173.92 on Tuesday. The company has a market cap of $70.04 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 1.98 and a beta of 0.40. The business’s 50-day moving average is $4,133.69 and its two-hundred day moving average is $3,848.42. 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 released its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the firm earned $51.58 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares in the company, valued at $5,194,570.80. This trade represents a 69.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 directly owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

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.