1,203 AutoZone, Inc. $AZO Shares Acquired by Elevation Wealth Partners LLC

Key Points

• Elevation Wealth Partners increased its AutoZone stake by 1,203 shares in the third quarter, bringing its holdings to 1,208 shares valued at approximately $35,000. Institutional investors collectively own 92.74% of AutoZone.
• Analysts maintain a generally positive view, with AutoZone receiving a “Moderate Buy” consensus rating and an average price target of $3,669.12, well above the cited share price of $2,910.62.
• AutoZone reported quarterly revenue of $6.59 billion, up 5.6% year over year, and authorized a $1.5 billion share-repurchase program. However, several forward earnings estimates were reduced, suggesting potentially softer medium-term growth.

Elevation Wealth Partners LLC grew its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 24,060.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,208 shares of the company's stock after buying an additional 1,203 shares during the period. Elevation Wealth Partners LLC's holdings in AutoZone were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in AutoZone during the second quarter worth approximately $3,938,566,000. First Manhattan CO. LLC. increased its position in shares of AutoZone by 2.7% during the 4th quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company's stock valued at $886,246,000 after purchasing an additional 6,765 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of AutoZone by 247,417.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company's stock valued at $798,963,000 after purchasing an additional 249,892 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in AutoZone during the 2nd quarter valued at $572,885,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AutoZone by 11,577.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 141,066 shares of the company's stock valued at $450,838,000 after buying an additional 139,858 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZO has been the subject of several recent analyst reports. UBS Group set a $3,850.00 price objective on shares of AutoZone in a research note on Wednesday, September 23rd. BMO Capital Markets reduced their target price on shares of AutoZone from $4,000.00 to $3,500.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 23rd. Oppenheimer set a $3,400.00 target price on shares of AutoZone in a report on Wednesday, September 23rd. Piper Sandler set a $3,500.00 price target on shares of AutoZone in a research note on Monday, August 31st. Finally, Citigroup cut their price target on shares of AutoZone from $3,700.00 to $3,450.00 and set a "buy" rating on the stock in a report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $3,669.12.

AutoZone Trading Up 2.3%

NYSE:AZO opened at $2,910.62 on Friday. The company has a market cap of $47.53 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.32 and a beta of 0.40. AutoZone, Inc. has a twelve month low of $2,730.65 and a twelve month high of $4,146.42. The stock has a fifty day simple moving average of $2,947.19 and a 200-day simple moving average of $3,146.50.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $55.51. The firm had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $48.71 earnings per share. As a group, equities research analysts predict that AutoZone, Inc. will post 171.5 EPS for the current fiscal year.

AutoZone declared that its board has initiated a share repurchase program on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Insider Transactions at AutoZone

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

More AutoZone News

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Bernstein upgraded AutoZone to “Strong Buy,” signaling increased confidence in the company’s outlook and potentially supporting the stock’s valuation. Bernstein upgrades AutoZone stock to Strong Buy
• Positive Sentiment: AutoZone’s average analyst price target is $3,669.12, above the stock’s recently cited trading level near $2,911, implying meaningful potential upside if estimates and valuation hold. AutoZone, Inc. Stock Has Average Price Target of $3,669.12
• Positive Sentiment: Long-term earnings expectations remain constructive: Zacks forecasts EPS of $190.08 for fiscal 2028 and $220.60 for fiscal 2029, suggesting continued profit growth beyond the near term. Zacks Research Comments on AutoZone’s Q2 Earnings
• Neutral Sentiment: Zacks modestly raised its Q3 2028 EPS forecast to $46.56 from $45.66, partially offsetting the reductions to other quarterly and annual estimates. Zacks Research Comments on AutoZone’s Q2 Earnings
• Negative Sentiment: Zacks cut several forward earnings estimates: Q1 2027 EPS fell to $34.65 from $37.78, Q4 2027 to $58.15 from $61.70, and fiscal 2027 to $166.16 from $174.73. Fiscal 2028 EPS was also reduced to $190.08 from $197.32, while Q1 and Q4 2028 estimates were lowered as well. The revisions suggest analysts see softer near- to medium-term earnings momentum. Zacks Research Comments on AutoZone’s Q2 Earnings

AutoZone Profile

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

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

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