Wallace Advisory Group LLC Takes $270,000 Position in AutoZone, Inc. (NYSE:AZO)

Wallace Advisory Group LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 91 shares of the company’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of AutoZone in the 1st quarter valued at approximately $32,000. Riverview Trust Co purchased a new stake in AutoZone during the 1st quarter valued at $41,000. Meeder Asset Management Inc. lifted its position in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in AutoZone during the second quarter worth $50,000. Finally, ORG Partners LLC bought a new position in AutoZone during the second quarter valued at $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 1.5 %

Shares of NYSE:AZO opened at $3,149.72 on Tuesday. The firm has a 50 day moving average of $3,125.47 and a 200 day moving average of $3,011.61. The company has a market capitalization of $53.81 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.43 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 released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the firm posted $46.46 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts expect that AutoZone, Inc. will post 151.08 EPS for the current year.

Insider Buying and Selling at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AZO. Morgan Stanley raised their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Citigroup decreased their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Mizuho upped their target price on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. DA Davidson restated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday. Finally, Truist Financial reduced their target price on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $3,169.38.

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.