Axxcess Wealth Management LLC Has $737,000 Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Axxcess Wealth Management LLC decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 54.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 234 shares of the company’s stock after selling 278 shares during the quarter. Axxcess Wealth Management LLC’s holdings in AutoZone were worth $737,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in AutoZone during the first quarter valued at approximately $32,000. Riverview Trust Co bought a new stake in shares of AutoZone in the 1st quarter valued at $41,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AutoZone during the 4th quarter worth $54,000. Private Wealth Management Group LLC bought a new position in AutoZone during the fourth quarter worth about $54,000. Finally, Quarry LP acquired a new position in AutoZone in the fourth quarter valued at about $70,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jenna M. Bedsole purchased 36 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the purchase, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.50% of the company’s stock.

AutoZone Price Performance

AZO traded up $66.16 during trading on Friday, hitting $3,097.13. 182,595 shares of the stock traded hands, compared to its average volume of 148,797. The business has a 50 day moving average price of $2,873.93 and a 200 day moving average price of $2,902.63. The company has a market cap of $52.90 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.48 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last released its earnings results 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 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 business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $34.12 earnings per share. On average, equities research analysts predict that AutoZone, Inc. will post 151.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AZO. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Oppenheimer reaffirmed a “market perform” rating and issued a $2,600.00 price target on shares of AutoZone in a research note on Wednesday, June 26th. Wolfe Research lowered their price objective on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. Morgan Stanley cut their price objective on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Finally, UBS Group lowered their target price on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Three equities research 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

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.