Wealth Enhancement Advisory Services LLC Increases Position in AutoZone, Inc. $AZO

Wealth Enhancement Advisory Services LLC lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,250 shares of the company’s stock after purchasing an additional 311 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in AutoZone were worth $25,538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AZO. Avantax Advisory Services Inc. increased its holdings in shares of AutoZone by 8.3% in the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after purchasing an additional 210 shares during the period. Braun Stacey Associates Inc. grew its position in AutoZone by 7.8% in the 3rd quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock valued at $36,145,000 after buying an additional 613 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in AutoZone by 68.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock valued at $6,251,000 after buying an additional 591 shares during the period. Emerald Advisers LLC raised its position in AutoZone by 60.0% during the 2nd quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock worth $832,000 after buying an additional 84 shares during the last quarter. Finally, Hager Investment Management Services LLC raised its position in AutoZone by 70.9% during the 2nd quarter. Hager Investment Management Services LLC now owns 470 shares of the company’s stock worth $1,745,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,674.00 on Thursday. The firm has a market capitalization of $60.88 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 1.71 and a beta of 0.42. The business’s 50 day simple moving average is $3,591.47 and its 200-day simple moving average is $3,849.43. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $32.52 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its board has authorized a stock repurchase program on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AZO. Evercore ISI reiterated an “outperform” rating and set a $4,100.00 price target on shares of AutoZone in a research note on Wednesday, December 10th. Citigroup dropped their target price on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Rothschild & Co Redburn increased their target price on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. BMO Capital Markets decreased their price target on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $4,400.00 price objective on shares of AutoZone in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $4,285.00.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director owned 4,887 shares of the company’s stock, valued at $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 3,190 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $3,500.00, for a total transaction of $11,165,000.00. Following the transaction, the vice president directly owned 2,627 shares of the company’s stock, valued at approximately $9,194,500. This trade represents a 54.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 347 shares of company stock worth $1,179,256 and sold 3,837 shares worth $13,445,423. 2.60% of the stock is currently owned by corporate insiders.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.