Avidian Wealth Enterprises LLC Reduces Stake in AutoZone, Inc. (NYSE:AZO)

Avidian Wealth Enterprises LLC cut its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 41.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113 shares of the company's stock after selling 81 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in AutoZone were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in AutoZone during the fourth quarter valued at approximately $29,000. Flagship Wealth Advisors LLC bought a new position in AutoZone in the fourth quarter valued at $32,000. Harbour Investments Inc. raised its position in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after purchasing an additional 3 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new position in shares of AutoZone in the 4th quarter worth about $45,000. Finally, Golden State Wealth Management LLC increased its position in shares of AutoZone by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 14 shares of the company's stock valued at $53,000 after purchasing an additional 7 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Buying and Selling

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the sale, the chief financial officer owned 427 shares of the company's stock, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the transaction, the senior vice president directly owned 406 shares of the company's stock, valued at $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,662 shares of company stock worth $131,999,089 in the last three months. 2.10% of the stock is owned by company insiders.

AutoZone Stock Down 0.8%

AZO stock traded down $29.85 during trading on Wednesday, hitting $3,688.75. The company had a trading volume of 111,422 shares, compared to its average volume of 130,321. AutoZone, Inc. has a 52-week low of $2,801.49 and a 52-week high of $3,916.81. The firm has a market capitalization of $61.90 billion, a P/E ratio of 24.97, a PEG ratio of 2.22 and a beta of 0.39. The company has a 50 day simple moving average of $3,698.39 and a 200-day simple moving average of $3,538.44.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. AutoZone's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $36.69 earnings per share. Sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

AZO has been the topic of several research reports. Wells Fargo & Company set a $4,200.00 price target on shares of AutoZone and gave the stock an "overweight" rating in a research note on Monday, May 19th. Roth Mkm increased their price objective on AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Guggenheim boosted their price objective on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Morgan Stanley reaffirmed an "overweight" rating and set a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Finally, Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, AutoZone has an average rating of "Buy" and an average price target of $4,072.24.

AutoZone Company Profile

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.