Wealth Enhancement Advisory Services LLC Has $16.35 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Wealth Enhancement Advisory Services LLC lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,514 shares of the company’s stock after selling 309 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AutoZone were worth $16,346,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Meyer Handelman Co. raised its holdings in shares of AutoZone by 4.0% in the 2nd quarter. Meyer Handelman Co. now owns 1,700 shares of the company’s stock valued at $5,039,000 after acquiring an additional 65 shares in the last quarter. Wedmont Private Capital boosted its position in AutoZone by 5.7% in the second quarter. Wedmont Private Capital now owns 223 shares of the company’s stock worth $651,000 after purchasing an additional 12 shares during the last quarter. Brendel Financial Advisors LLC bought a new stake in AutoZone during the second quarter valued at about $1,826,000. Dynamic Advisor Solutions LLC raised its holdings in shares of AutoZone by 2.6% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 603 shares of the company’s stock worth $1,787,000 after acquiring an additional 15 shares in the last quarter. Finally, Northwest Investment Counselors LLC grew its stake in shares of AutoZone by 1.3% in the 2nd quarter. Northwest Investment Counselors LLC now owns 1,487 shares of the company’s stock worth $4,408,000 after buying an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other AutoZone news, VP Jenna M. Bedsole acquired 36 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the acquisition, the vice president now directly owns 36 shares of the company’s stock, valued at approximately $99,255.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the topic of a number of research reports. Truist Financial reduced their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. UBS Group decreased their target price on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Guggenheim raised their price target on AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Evercore ISI lowered their price objective on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Citigroup reduced their price objective on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average target price of $3,112.71.

AutoZone Trading Up 1.2 %

NYSE:AZO traded up $39.23 during trading hours on Wednesday, hitting $3,195.14. The stock had a trading volume of 16,704 shares, compared to its average volume of 145,565. The company has a market cap of $54.58 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.58 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The business has a 50 day simple moving average of $2,957.73 and a two-hundred day simple moving average of $2,948.54.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating the consensus estimate of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business earned $34.12 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts expect that AutoZone, Inc. will post 151.37 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.