McLean Asset Management Corp Increases Position in AutoZone, Inc. $AZO

McLean Asset Management Corp boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87 shares of the company’s stock after purchasing an additional 3 shares during the quarter. McLean Asset Management Corp’s holdings in AutoZone were worth $320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaCore Capital LLC purchased a new stake in AutoZone in the first quarter worth about $27,000. Saudi Central Bank purchased a new stake in AutoZone in the first quarter worth about $27,000. Financial Network Wealth Advisors LLC lifted its stake in shares of AutoZone by 66.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after buying an additional 4 shares in the last quarter. Cornerstone Planning Group LLC bought a new position in shares of AutoZone in the first quarter worth approximately $44,000. Finally, Clearstead Trust LLC bought a new position in shares of AutoZone in the first quarter worth approximately $46,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 0.6%

Shares of AutoZone stock opened at $4,327.37 on Friday. The company has a market cap of $72.62 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 2.30 and a beta of 0.41. The company’s 50 day moving average is $3,989.84 and its 200 day moving average is $3,773.46. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,388.11.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AZO shares. Wells Fargo & Company set a $4,200.00 target price on shares of AutoZone and gave the stock an “overweight” rating in a research note on Monday, May 19th. The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Truist Financial set a $3,995.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Evercore ISI upped their target price on shares of AutoZone from $4,060.00 to $4,250.00 and gave the stock an “outperform” rating in a research note on Monday, August 18th. Finally, DA Davidson upped their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, AutoZone currently has a consensus rating of “Buy” and a consensus price target of $4,229.38.

Insider Activity at AutoZone

In other news, SVP K. Michelle Borninkhof sold 750 shares of the 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 of the company’s stock, valued at $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

AutoZone Company 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.