AutoZone, Inc. (NYSE:AZO) Position Boosted by Golden State Wealth Management LLC

Golden State Wealth Management LLC increased its holdings in AutoZone, Inc. (NYSE:AZO) by 100.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14 shares of the company’s stock after buying an additional 7 shares during the quarter. Golden State Wealth Management LLC’s holdings in AutoZone were worth $53,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC increased its stake in shares of AutoZone by 2.0% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company’s stock worth $487,000 after purchasing an additional 3 shares during the period. Harbour Investments Inc. increased its stake in shares of AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the period. PDS Planning Inc increased its stake in shares of AutoZone by 2.3% in the fourth quarter. PDS Planning Inc now owns 132 shares of the company’s stock worth $423,000 after purchasing an additional 3 shares during the period. Meeder Advisory Services Inc. increased its stake in shares of AutoZone by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company’s stock worth $1,188,000 after purchasing an additional 3 shares during the period. Finally, Tandem Wealth Advisors LLC increased its stake in shares of AutoZone by 3.6% in the fourth quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company’s stock worth $279,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors.

Insider Transactions at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the company’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the transaction, the senior vice president owned 406 shares of the company’s stock, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the transaction, the chief financial officer directly owned 427 shares in the company, valued at approximately $1,591,877.35. This represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,662 shares of company stock worth $131,999,089 in the last quarter. 2.10% of the stock is owned by corporate insiders.

AutoZone Price Performance

Shares of AZO opened at $3,667.00 on Monday. The company has a market capitalization of $61.53 billion, a P/E ratio of 24.82, a PEG ratio of 2.25 and a beta of 0.39. AutoZone, Inc. has a one year low of $2,802.79 and a one year high of $3,916.81. The business’s 50 day simple moving average is $3,701.69 and its 200-day simple moving average is $3,548.45.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same period in the previous year, the firm earned $36.69 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AZO shares. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a research note on Friday, May 23rd. Mizuho boosted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley restated an “overweight” rating and set a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Wall Street Zen upgraded AutoZone from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Finally, Guggenheim boosted their price target on AutoZone from $3,850.00 to $4,100.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $4,087.00.

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.