Prasad Wealth Partners LLC Has $623,000 Holdings in AutoZone, Inc. $AZO

Prasad Wealth Partners LLC lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 22.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168 shares of the company’s stock after purchasing an additional 31 shares during the period. Prasad Wealth Partners LLC’s holdings in AutoZone were worth $623,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of AutoZone by 3.5% in the 1st quarter. Blue Trust Inc. now owns 89 shares of the company’s stock valued at $339,000 after purchasing an additional 3 shares during the last quarter. Kirr Marbach & Co. LLC IN lifted its position in AutoZone by 0.9% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company’s stock worth $29,591,000 after acquiring an additional 68 shares during the last quarter. Banco Santander S.A. lifted its position in AutoZone by 98.3% during the 1st quarter. Banco Santander S.A. now owns 829 shares of the company’s stock worth $3,161,000 after acquiring an additional 411 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in AutoZone during the 1st quarter worth $545,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in AutoZone by 19.3% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,607 shares of the company’s stock worth $6,127,000 after acquiring an additional 260 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were 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 $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the transaction, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Zacks Research lowered shares of AutoZone from a “hold” rating to a “strong sell” rating in a research report on Friday, September 26th. Roth Capital restated a “buy” rating and set a $4,750.00 price objective (down previously from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. Raymond James Financial dropped their price objective on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 24th. Finally, Wolfe Research started coverage on shares of AutoZone in a report on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,538.21.

AutoZone Stock Down 1.0%

NYSE AZO opened at $4,173.92 on Tuesday. The stock has a market cap of $70.04 billion, a P/E ratio of 28.81, a PEG ratio of 1.98 and a beta of 0.40. The company’s 50-day simple moving average is $4,133.69 and its 200 day simple moving average is $3,848.42. AutoZone, Inc. has a twelve month low of $2,980.10 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $51.58 EPS. Research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

About AutoZone

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.