Wealth Enhancement Advisory Services LLC Buys 399 Shares of AutoZone, Inc. (NYSE:AZO)

Wealth Enhancement Advisory Services LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,823 shares of the company’s stock after buying an additional 399 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AutoZone were worth $18,352,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in AutoZone during the first quarter worth $32,000. Riverview Trust Co bought a new position in AutoZone in the 1st quarter valued at $41,000. Turtle Creek Wealth Advisors LLC bought a new position in AutoZone in the 4th quarter valued at $54,000. Private Wealth Management Group LLC bought a new position in AutoZone in the 4th quarter valued at $54,000. Finally, Quarry LP bought a new position in AutoZone in the 4th quarter valued at $70,000. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Jenna M. Bedsole purchased 36 shares of the stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the acquisition, the vice president now directly owns 36 shares in the company, valued at approximately $99,255.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AZO shares. Wedbush reduced their price objective on AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating for the company in a research note on Wednesday, May 22nd. Mizuho reduced their price objective on 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. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Wolfe Research dropped their price target on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a research report on Wednesday. Four 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. Based on data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $3,112.88.

AutoZone Stock Performance

Shares of AZO opened at $2,954.76 on Friday. The stock’s 50-day simple moving average is $2,895.17 and its 200 day simple moving average is $2,860.20. The stock has a market capitalization of $50.47 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data 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 business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $34.12 EPS. On average, research analysts forecast that AutoZone, Inc. will post 151.57 earnings per share for the current fiscal year.

AutoZone Profile

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.