Peak Financial Advisors LLC Purchases New Stake in AutoZone, Inc. (NYSE:AZO)

Peak Financial Advisors LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 950 shares of the company’s stock, valued at approximately $2,816,000. AutoZone comprises approximately 1.6% of Peak Financial Advisors LLC’s holdings, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in AutoZone by 24.4% in the second quarter. QRG Capital Management Inc. now owns 291 shares of the company’s stock valued at $863,000 after acquiring an additional 57 shares during the last quarter. Avondale Wealth Management grew its holdings in shares of AutoZone by 24.6% during the 2nd quarter. Avondale Wealth Management now owns 167 shares of the company’s stock worth $495,000 after purchasing an additional 33 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of AutoZone during the 2nd quarter worth about $50,000. BDF Gestion purchased a new stake in AutoZone in the 2nd quarter valued at about $3,044,000. Finally, Threadgill Financial LLC lifted its position in AutoZone by 0.4% in the second quarter. Threadgill Financial LLC now owns 5,868 shares of the company’s stock valued at $17,393,000 after buying an additional 25 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of AZO stock traded down $36.77 during trading hours on Friday, hitting $3,120.25. The stock had a trading volume of 73,532 shares, compared to its average volume of 146,701. The firm has a market capitalization of $53.30 billion, a PE ratio of 21.58, a PEG ratio of 1.58 and a beta of 0.71. The stock’s 50 day moving average is $2,942.94 and its 200 day moving average is $2,941.75. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $34.12 earnings per share. As a group, equities analysts predict that AutoZone, Inc. will post 151.37 earnings per share for the current year.

Insider Transactions at AutoZone

In other news, VP Jenna M. Bedsole acquired 36 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $2,757.10 per share, with a total value of $99,255.60. Following the purchase, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Evercore ISI dropped their price target on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Wolfe Research dropped their target price on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Mizuho decreased their price target on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a research note on Wednesday, July 10th. Finally, Guggenheim increased their target price on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

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.