HB Wealth Management LLC Buys 137 Shares of AutoZone, Inc. (NYSE:AZO)

HB Wealth Management LLC boosted its stake in AutoZone, Inc. (NYSE:AZO) by 10.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,413 shares of the company’s stock after purchasing an additional 137 shares during the period. HB Wealth Management LLC’s holdings in AutoZone were worth $5,388,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AZO. Meeder Advisory Services Inc. boosted its holdings in shares of AutoZone by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company’s stock valued at $1,188,000 after purchasing an additional 3 shares during the period. Tandem Wealth Advisors LLC raised its position in AutoZone by 3.6% during the 4th quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company’s stock valued at $279,000 after purchasing an additional 3 shares in the last quarter. United Capital Financial Advisors LLC lifted its holdings in shares of AutoZone by 0.3% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company’s stock worth $3,585,000 after buying an additional 3 shares during the period. Forum Financial Management LP grew its position in shares of AutoZone by 2.2% during the 4th quarter. Forum Financial Management LP now owns 138 shares of the company’s stock worth $443,000 after buying an additional 3 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its stake in shares of AutoZone by 2.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company’s stock valued at $538,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In related news, CFO Jamere Jackson sold 2,612 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were 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 of the company’s stock, valued at approximately $1,591,877.35. This represents a 85.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction 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 transaction, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,862 shares of company stock valued at $126,058,789. Company insiders own 2.10% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $3,819.20 on Friday. The stock’s 50 day moving average price is $3,711.34 and its 200 day moving average price is $3,597.71. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $3,916.81. The company has a market cap of $64.09 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 2.28 and a beta of 0.39.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group set a $3,811.00 price target on shares of AutoZone in a research report on Friday, May 23rd. Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the stock an “overweight” rating in a report on Monday, May 19th. UBS Group increased their target price on AutoZone from $4,025.00 to $4,260.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Evercore ISI set a $3,950.00 price target on AutoZone in a research report on Monday, May 19th. Finally, Morgan Stanley restated an “overweight” rating and set a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, 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.