596 Shares in AutoZone, Inc. $AZO Bought by Visionary Wealth Advisors

Visionary Wealth Advisors purchased a new position in AutoZone, Inc. (NYSE:AZOFree Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 596 shares of the company’s stock, valued at approximately $1,905,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZO. Asset One Wealth Management LLC acquired a new stake in shares of AutoZone in the 2nd quarter valued at about $787,000. Ally Financial Inc. bought a new stake in AutoZone in the 2nd quarter valued at about $2,397,000. Cibc World Market Inc. acquired a new position in AutoZone during the 2nd quarter worth approximately $4,342,000. OMERS ADMINISTRATION Corp acquired a new position in AutoZone during the 2nd quarter worth approximately $3,190,000. Finally, Osmosis Investment Management UK Ltd bought a new position in AutoZone in the second quarter worth approximately $1,518,000. 92.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Brian Hannasch acquired 165 shares of the business’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the acquisition, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dennis W. Leriche sold 1,455 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the sale, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

AutoZone Stock Up 1.7%

Shares of AutoZone stock opened at $3,008.32 on Tuesday. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11. The business has a 50 day moving average price of $3,053.00 and a 200-day moving average price of $3,324.51. The company has a market cap of $49.13 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33.

AutoZone (NYSE:AZOGet Free Report) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.AutoZone’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $35.36 earnings per share. As a group, research analysts anticipate that AutoZone, Inc. will post 150.39 EPS for the current year.

AutoZone declared that its board has approved a stock buyback program on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of research reports. BNP Paribas Exane reduced their price objective on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Roth Capital lowered their target price on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Morgan Stanley cut their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. JPMorgan Chase & Co. reduced their price target on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group decreased their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4,029.43.

Read Our Latest Report on AZO

AutoZone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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