Elevation Point Wealth Partners LLC Buys Shares of 180 AutoZone, Inc. $AZO

Elevation Point Wealth Partners LLC bought a new position in AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 180 shares of the company’s stock, valued at approximately $574,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Turning Point Benefit Group Inc. bought a new position in AutoZone during the 3rd quarter worth about $25,000. Torren Management LLC bought a new stake in shares of AutoZone in the 4th quarter valued at about $27,000. Transamerica Financial Advisors LLC lifted its position in shares of AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after purchasing an additional 4 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of AutoZone in the 2nd quarter worth approximately $29,000. Finally, MCF Advisors LLC boosted its stake in shares of AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after purchasing an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,008.32 on Tuesday. The business’s 50-day moving average is $3,053.00 and its 200 day moving average is $3,324.51. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The firm has a market capitalization of $49.13 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.50 and a beta of 0.33.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter last year, the company earned $35.36 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts expect that AutoZone, Inc. will post 150.39 EPS for the current year.

AutoZone announced that its Board of Directors has approved a share buyback program on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

AZO has been the topic of several research reports. Guggenheim cut their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. DA Davidson dropped their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Mizuho cut their price target on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. Citigroup decreased their price objective on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group cut their target price on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4,029.43.

Insider Buying and Selling

In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the firm’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 completion of the transaction, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian Hannasch acquired 165 shares of the stock in a transaction dated Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The SEC filing for this purchase provides additional information. 2.60% of the stock is owned by company insiders.

AutoZone Company 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.