HB Wealth Management LLC Has $5.17 Million Stock Holdings in AutoZone, Inc. $AZO

HB Wealth Management LLC raised its position in AutoZone, Inc. (NYSE:AZO) by 20.1% during the second quarter, Holdings Channel reports. The institutional investor owned 1,618 shares of the company’s stock after buying an additional 271 shares during the quarter. HB Wealth Management LLC’s holdings in AutoZone were worth $5,174,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Lazard Asset Management LLC raised its position in shares of AutoZone by 6.2% in the second quarter. Lazard Asset Management LLC now owns 51 shares of the company’s stock valued at $189,000 after purchasing an additional 3 shares during the period. Johnson Financial Group Inc. lifted its stake in shares of AutoZone by 30.0% during the 3rd quarter. Johnson Financial Group Inc. now owns 13 shares of the company’s stock valued at $56,000 after buying an additional 3 shares in the last quarter. L2 Asset Management LLC boosted its holdings in AutoZone by 4.0% in the 3rd quarter. L2 Asset Management LLC now owns 78 shares of the company’s stock worth $335,000 after buying an additional 3 shares during the period. Midwest Trust Co boosted its holdings in AutoZone by 4.2% in the 4th quarter. Midwest Trust Co now owns 74 shares of the company’s stock worth $251,000 after buying an additional 3 shares during the period. Finally, MCF Advisors LLC grew its stake in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

AZO has been the topic of a number of analyst reports. DA Davidson lowered their target price on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Robert W. Baird decreased their price objective on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Guggenheim dropped their price objective on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, Evercore restated an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3,999.04.

AutoZone Price Performance

NYSE AZO opened at $2,981.99 on Tuesday. The company’s 50 day simple moving average is $3,033.00 and its two-hundred day simple moving average is $3,271.49. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The stock has a market capitalization of $48.70 billion, a PE ratio of 20.50, a P/E/G ratio of 1.49 and a beta of 0.34.

AutoZone declared that its board has approved a stock buyback program on Tuesday, June 16th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to purchase up to 3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the transaction, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.