Blue Zone Wealth Advisors LLC Purchases 37 Shares of AutoZone, Inc. (NYSE:AZO)

Blue Zone Wealth Advisors LLC grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,492 shares of the company’s stock after acquiring an additional 37 shares during the quarter. AutoZone comprises 2.7% of Blue Zone Wealth Advisors LLC’s portfolio, making the stock its 5th biggest position. Blue Zone Wealth Advisors LLC’s holdings in AutoZone were worth $7,854,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of AutoZone during the first quarter worth about $32,000. Riverview Trust Co purchased a new position in AutoZone in the 1st quarter worth approximately $41,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AutoZone in the fourth quarter valued at approximately $54,000. Private Wealth Management Group LLC acquired a new stake in AutoZone in the fourth quarter valued at approximately $54,000. Finally, Quarry LP purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $70,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the transaction, 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 can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their price target on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Wedbush lowered their target price 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. Guggenheim boosted their price target on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley lowered their price objective on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. Finally, Truist Financial cut their target price on 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. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,112.88.

AutoZone Stock Up 0.3 %

Shares of NYSE:AZO traded up $8.70 during trading on Friday, hitting $2,964.10. 188,441 shares of the company traded hands, compared to its average volume of 145,426. The stock has a market capitalization of $50.63 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.49 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The business’s fifty day moving average is $2,894.37 and its 200-day moving average is $2,865.58.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, topping 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 analyst estimates of $4.29 billion. During the same period last year, the company earned $34.12 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts forecast that AutoZone, Inc. will post 151.57 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.