Geneos Wealth Management Inc. Increases Holdings in AutoZone, Inc. $AZO

Geneos Wealth Management Inc. lifted its position in AutoZone, Inc. (NYSE:AZO) by 160.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73 shares of the company’s stock after purchasing an additional 45 shares during the quarter. Geneos Wealth Management Inc.’s holdings in AutoZone were worth $278,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AZO. AlphaCore Capital LLC acquired a new stake in AutoZone during the first quarter worth $27,000. Saudi Central Bank acquired a new stake in shares of AutoZone during the 1st quarter worth about $27,000. Financial Network Wealth Advisors LLC raised its holdings in AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock valued at $38,000 after buying an additional 4 shares during the period. Cornerstone Planning Group LLC purchased a new stake in AutoZone in the 1st quarter valued at about $44,000. Finally, Clearstead Trust LLC acquired a new position in AutoZone in the first quarter valued at about $46,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares of the company’s stock, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. This trade represents a 64.88% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AZO. Evercore ISI upped their price objective on shares of AutoZone from $4,060.00 to $4,250.00 and gave the stock an “outperform” rating in a report on Monday, August 18th. Guggenheim upped their price target on AutoZone from $3,850.00 to $4,100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Citigroup lifted their price objective on AutoZone from $3,900.00 to $4,900.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Roth Capital set a $4,135.00 price objective on AutoZone and gave the company a “buy” rating in a report on Monday, June 2nd. Finally, UBS Group raised their target price on AutoZone from $4,260.00 to $4,925.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $4,281.76.

AutoZone Trading Down 2.3%

AZO stock opened at $4,223.32 on Tuesday. The company’s 50-day moving average price is $3,998.54 and its 200 day moving average price is $3,783.60. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,388.11. The company has a market cap of $70.87 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.28 and a beta of 0.41.

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.