2,390 AutoZone, Inc. $AZO Shares Bought by Wealth Enhancement Trust Services Inc.

Key Points

• Wealth Enhancement Trust Services increased its AutoZone stake by 4,267.9% in the third quarter, buying 2,390 additional shares. Its position totaled 2,446 shares valued at approximately $6.92 million.
• Institutional investors and hedge funds own 92.74% of AutoZone’s outstanding shares, while analysts maintain a “Moderate Buy” consensus with an average price target of $3,669.12.
• AutoZone’s shares recently traded at $2,851.56, well below the consensus target. The company reported 5.6% year-over-year revenue growth and authorized a $1.5 billion share-repurchase program, although some analysts have lowered earnings estimates and one downgraded the stock to “market perform.”

Wealth Enhancement Trust Services Inc. increased its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 4,267.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,446 shares of the company's stock after purchasing an additional 2,390 shares during the period. Wealth Enhancement Trust Services Inc.'s holdings in AutoZone were worth $6,922,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AZO. BlackRock Inc. acquired a new position in shares of AutoZone in the second quarter valued at approximately $3,938,566,000. First Manhattan CO. LLC. raised its holdings in shares of AutoZone by 2.7% during the fourth quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company's stock worth $886,246,000 after acquiring an additional 6,765 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in AutoZone by 247,417.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company's stock valued at $798,963,000 after acquiring an additional 249,892 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in AutoZone in the 2nd quarter worth $572,885,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 worth $450,838,000 after purchasing an additional 139,858 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AZO shares. Morgan Stanley lowered AutoZone from an "overweight" rating to a "market perform" rating in a report on Tuesday, September 29th. DA Davidson decreased their price target on shares of AutoZone from $3,750.00 to $3,500.00 and set a "buy" rating for the company in a research note on Wednesday, September 23rd. Evercore reiterated an "outperform" rating on shares of AutoZone in a report on Wednesday, September 23rd. Truist Financial cut their price objective on shares of AutoZone from $3,817.00 to $3,648.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. Finally, Sanford C. Bernstein initiated coverage on shares of AutoZone in a research report on Tuesday, September 29th. They issued an "outperform" rating and a $3,698.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $3,669.12.

AutoZone Stock Performance

NYSE:AZO traded down $47.01 during mid-day trading on Wednesday, hitting $2,851.56. The stock had a trading volume of 130,185 shares, compared to its average volume of 265,268. AutoZone, Inc. has a twelve month low of $2,730.65 and a twelve month high of $4,146.42. The stock has a market cap of $46.57 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.30 and a beta of 0.40. The company's 50 day simple moving average is $2,949.26 and its 200 day simple moving average is $3,149.16.

AutoZone (NYSE:AZO - Get Free Report) last posted its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%.The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same period in the previous year, the firm earned $48.71 EPS. The firm's revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that AutoZone, Inc. will post 172.12 earnings per share for the current year.

AutoZone declared that its Board of Directors has authorized a share buyback program on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, VP Dennis LeRiche sold 1,455 shares of AutoZone 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 completion of the sale, the vice president owned 441 shares of the company's stock, valued at approximately $1,367,100. The trade was a 76.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company's stock.

Key Stories Impacting AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Bernstein upgraded AutoZone to “Strong Buy.” The bullish rating indicates confidence in the company’s long-term earnings and competitive position. The upgrade is especially notable because the average analyst price target is approximately $3,669, well above the stock’s recent trading level. Bernstein upgrades AutoZone stock to Strong Buy
• Positive Sentiment: Zacks Research raised its Q3 2028 EPS forecast to $46.56 from $45.66. The firm also projects AutoZone earnings of $190.08 per share for fiscal 2028 and $220.60 for fiscal 2029, pointing to continued long-term earnings growth. Zacks Research Comments on AutoZone's Q2 Earnings
• Neutral Sentiment: Analysts’ average price target is $3,669.12. This target implies substantial potential upside from recent levels, but it reflects analyst expectations rather than a guaranteed near-term catalyst. AutoZone Stock Has Average Price Target of $3,669.12
• Negative Sentiment: Zacks lowered several near- and intermediate-term earnings estimates. Q2 2027 EPS was reduced to $31.45 from $32.61, Q3 2027 to $41.91 from $42.64, and Q2 2028 to $39.11 from $40.45. Its fiscal 2028 forecast also fell to $190.08 from $197.32, potentially weighing on sentiment about near-term earnings momentum. Zacks Research Comments on AutoZone's Q2 Earnings

AutoZone Company 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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