Transcend Capital Advisors LLC Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Transcend Capital Advisors LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 126 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Trail Advisors LLC raised its stake in AutoZone by 3.8% during the fourth quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock worth $283,000 after acquiring an additional 4 shares in the last quarter. Guardian Capital LP raised its stake in AutoZone by 1.3% during the fourth quarter. Guardian Capital LP now owns 301 shares of the company’s stock worth $778,000 after acquiring an additional 4 shares in the last quarter. Quent Capital LLC raised its stake in AutoZone by 4.8% during the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock worth $277,000 after acquiring an additional 4 shares in the last quarter. Stiles Financial Services Inc grew its holdings in shares of AutoZone by 2.7% during the fourth quarter. Stiles Financial Services Inc now owns 191 shares of the company’s stock worth $494,000 after purchasing an additional 5 shares during the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in shares of AutoZone by 1.4% during the fourth quarter. Hohimer Wealth Management LLC now owns 366 shares of the company’s stock worth $946,000 after purchasing an additional 5 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

AZO has been the topic of several research reports. Citigroup reduced their price target on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Evercore ISI reduced their price target on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Wedbush restated an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a report on Wednesday, July 10th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Wolfe Research reduced their price target on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,112.71.

Insider Buying and Selling at AutoZone

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

AutoZone Stock Up 0.9 %

NYSE AZO traded up $29.31 on Friday, reaching $3,177.67. The company had a trading volume of 140,222 shares, compared to its average volume of 111,671. The stock has a market capitalization of $54.28 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.58 and a beta of 0.71. The company’s fifty day moving average is $2,908.48 and its 200 day moving average is $2,928.33. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

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