Lake Street Advisors Group LLC Boosts Stock Position in AutoZone, Inc. (NYSE:AZO)

Lake Street Advisors Group LLC raised its position in AutoZone, Inc. (NYSE:AZO) by 31.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 257 shares of the company’s stock after acquiring an additional 62 shares during the period. Lake Street Advisors Group LLC’s holdings in AutoZone were worth $810,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. increased its stake in AutoZone by 106.7% during the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock valued at $371,552,000 after purchasing an additional 60,852 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in AutoZone by 257.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 586 shares of the company’s stock worth $1,847,000 after acquiring an additional 422 shares during the period. O Shaughnessy Asset Management LLC grew its stake in AutoZone by 4.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,075 shares of the company’s stock valued at $12,843,000 after purchasing an additional 163 shares during the last quarter. Penobscot Investment Management Company Inc. increased its holdings in shares of AutoZone by 1.5% in the first quarter. Penobscot Investment Management Company Inc. now owns 683 shares of the company’s stock valued at $2,153,000 after purchasing an additional 10 shares during the period. Finally, Davis R M Inc. acquired a new position in shares of AutoZone in the first quarter valued at about $205,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In related news, VP Jenna M. Bedsole purchased 36 shares of the stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the purchase, the vice president now directly owns 36 shares in the company, valued at approximately $99,255.60. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Barclays dropped their price objective on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Morgan Stanley decreased their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 22nd. Guggenheim upped their price target on AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Truist Financial cut their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Price Performance

Shares of NYSE:AZO traded up $80.13 during trading on Thursday, reaching $3,021.86. The company had a trading volume of 53,514 shares, compared to its average volume of 147,625. The stock’s fifty day moving average price is $2,871.22 and its 200 day moving average price is $2,901.69. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The firm has a market capitalization of $51.61 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.46 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $34.12 EPS. On average, equities analysts anticipate that AutoZone, Inc. will post 151.59 EPS for the current fiscal year.

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.