AutoZone, Inc. $AZO Shares Bought by Cherry Tree Wealth Management LLC

Cherry Tree Wealth Management LLC grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 47,900.0% in the 2nd quarter, Holdings Channel reports. The firm owned 1,920 shares of the company’s stock after acquiring an additional 1,916 shares during the quarter. Cherry Tree Wealth Management LLC’s holdings in AutoZone were worth $6,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SkyView Investment Advisors LLC increased its position in AutoZone by 11.1% in the second quarter. SkyView Investment Advisors LLC now owns 100 shares of the company’s stock worth $320,000 after buying an additional 10 shares during the period. Tidal Investments LLC boosted its holdings in shares of AutoZone by 29.6% during the second quarter. Tidal Investments LLC now owns 7,922 shares of the company’s stock valued at $25,318,000 after acquiring an additional 1,809 shares during the period. National Pension Service grew its position in shares of AutoZone by 3.6% during the second quarter. National Pension Service now owns 45,649 shares of the company’s stock worth $145,891,000 after acquiring an additional 1,578 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of AutoZone by 48.6% during the second quarter. WINTON GROUP Ltd now owns 110 shares of the company’s stock worth $352,000 after acquiring an additional 36 shares during the last quarter. Finally, Engineers Gate Manager LP grew its position in shares of AutoZone by 923.1% during the second quarter. Engineers Gate Manager LP now owns 1,238 shares of the company’s stock worth $3,957,000 after acquiring an additional 1,117 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AutoZone

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the sale, the vice president directly owned 441 shares in the company, valued at approximately $1,367,100. The trade was a 76.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Guggenheim decreased their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Jefferies Financial Group dropped their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. BNP Paribas Exane cut their price target on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Finally, Wells Fargo & Company reduced their price objective on AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating for the company in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $3,946.96.

AutoZone Trading Down 2.1%

AZO stock traded down $61.38 during trading on Tuesday, hitting $2,904.14. The company had a trading volume of 70,917 shares, compared to its average volume of 251,738. The firm has a market capitalization of $47.41 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.44 and a beta of 0.34. The business has a 50 day moving average of $3,011.00 and a 200 day moving average of $3,241.45. AutoZone, Inc. has a fifty-two week low of $2,865.13 and a fifty-two week high of $4,332.68.

AutoZone declared that its board has approved a share buyback plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

AutoZone Profile

AutoZone, Inc is a retailer and distributor of automotive replacement parts, accessories, and maintenance products. The company serves do-it-yourself customers, professional service technicians, and commercial repair businesses through its stores, distribution network, and online platform.

Its product offerings include replacement parts such as batteries, brakes, engine components, and ignition products, along with tools, fluids, filters, and other automotive accessories. AutoZone also provides services such as parts lookup, diagnostic assistance, battery testing and charging, and loaner tools for eligible repairs.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional locations in Mexico and Brazil.