Wealth Enhancement Advisory Services LLC Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

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

Several other institutional investors have also recently made changes to their positions in the company. Boston Partners grew its position in shares of AutoZone by 1.7% during the 1st quarter. Boston Partners now owns 382,169 shares of the company’s stock valued at $1,202,596,000 after acquiring an additional 6,226 shares during the period. Norges Bank acquired a new stake in AutoZone in the fourth quarter valued at approximately $678,350,000. Parnassus Investments LLC raised its stake in shares of AutoZone by 32.0% during the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after buying an additional 58,989 shares during the period. PineStone Asset Management Inc. grew its stake in AutoZone by 28.0% in the 4th quarter. PineStone Asset Management Inc. now owns 214,979 shares of the company’s stock valued at $555,852,000 after acquiring an additional 47,027 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in AutoZone by 11.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock worth $550,296,000 after acquiring an additional 22,507 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Up 1.2 %

AZO stock traded up $39.23 during trading on Wednesday, reaching $3,195.14. 16,704 shares of the company’s stock were exchanged, compared to its average volume of 145,565. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The company’s fifty day moving average price is $2,957.73 and its 200-day moving average price is $2,948.54. The firm has a market cap of $54.58 billion, a PE ratio of 21.83, a P/E/G ratio of 1.58 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping 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%. AutoZone’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $34.12 earnings per share. As a group, sell-side analysts expect that AutoZone, Inc. will post 151.37 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, VP Jenna M. Bedsole purchased 36 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the completion of the transaction, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group cut their target price on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Guggenheim increased their target price on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Mizuho lowered their price objective on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Citigroup lowered their price target on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $3,112.71.

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.