Wealthfront Advisers LLC Sells 5 Shares of AutoZone, Inc. (NYSE:AZO)

Wealthfront Advisers LLC trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,469 shares of the company’s stock after selling 5 shares during the period. Wealthfront Advisers LLC’s holdings in AutoZone were worth $5,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in AutoZone by 50.6% during the fourth quarter. Proficio Capital Partners LLC now owns 131 shares of the company’s stock valued at $419,000 after buying an additional 44 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of AutoZone by 18.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 517 shares of the company’s stock worth $1,655,000 after acquiring an additional 82 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after purchasing an additional 3 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in AutoZone by 8.0% during the 4th quarter. Parallel Advisors LLC now owns 202 shares of the company’s stock worth $647,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insiders Place Their Bets

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

AutoZone Trading Down 0.9%

AZO stock opened at $3,648.87 on Friday. The company has a market cap of $61.23 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.20 and a beta of 0.39. AutoZone, Inc. has a 52 week low of $2,894.02 and a 52 week high of $3,916.81. The company’s 50-day moving average price is $3,701.06 and its 200 day moving average price is $3,573.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts’ consensus estimates of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the company posted $36.69 EPS. AutoZone’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AZO shares. JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. BMO Capital Markets restated an “outperform” rating and set a $4,100.00 price objective (up previously from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a report on Friday, May 23rd. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an “overweight” rating in a research note on Monday, May 19th. Finally, The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.