605 Shares in AutoZone, Inc. $AZO Purchased by Peak Financial Advisors LLC

Key Points

• Peak Financial Advisors LLC acquired 605 shares of AutoZone, Inc. during Q2, valued at approximately $2,246,000, indicating growing institutional interest in the company.
• Analysts have raised AutoZone's price targets, with UBS Group increasing theirs from $4,260 to $4,925, and the stock currently holds an average rating of "Buy" with a target of $4,229.38.
• Insider trading activity includes VP Richard Craig Smith selling 3,000 shares at $3,875.90, reducing his ownership by over 50%, while insiders collectively own 2.10% of the company's stock.

Peak Financial Advisors LLC purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 605 shares of the company's stock, valued at approximately $2,246,000.

Other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its position in AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after acquiring an additional 3 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in AutoZone by 10.1% during the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after buying an additional 271 shares during the period. Kirr Marbach & Co. LLC IN increased its stake in AutoZone by 0.9% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock worth $29,591,000 after buying an additional 68 shares during the period. Banco Santander S.A. increased its stake in AutoZone by 98.3% during the 1st quarter. Banco Santander S.A. now owns 829 shares of the company's stock worth $3,161,000 after buying an additional 411 shares during the period. Finally, Alpine Bank Wealth Management purchased a new stake in AutoZone during the 1st quarter worth $545,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

NYSE AZO opened at $4,327.37 on Friday. The company's 50 day simple moving average is $3,989.84 and its 200 day simple moving average is $3,776.14. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,388.11. The company has a market capitalization of $72.62 billion, a P/E ratio of 29.29, a PEG ratio of 2.30 and a beta of 0.41.

Insider Buying and Selling

In related news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares of the company's stock, valued at $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

AZO has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of AutoZone from $4,260.00 to $4,925.00 and gave the stock a "buy" rating in a report on Thursday. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. BMO Capital Markets reissued an "outperform" rating and set a $4,100.00 price objective (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Roth Capital set a $4,135.00 price objective on shares of AutoZone and gave the stock a "buy" rating in a report on Monday, June 2nd. Finally, Truist Financial set a $3,995.00 price objective on shares of AutoZone in a report on Friday, May 23rd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $4,229.38.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.

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