Maridea Wealth Management LLC Buys Shares of 87 AutoZone, Inc. $AZO

Maridea Wealth Management LLC purchased a new position in AutoZone, Inc. (NYSE:AZO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 87 shares of the company's stock, valued at approximately $323,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC increased its position in AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after purchasing an additional 770,005 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of AutoZone by 7,358.8% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company's stock worth $902,929,000 after purchasing an additional 239,970 shares during the last quarter. Nuveen LLC purchased a new stake in shares of AutoZone during the first quarter worth about $442,530,000. JPMorgan Chase & Co. raised its position in shares of AutoZone by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after buying an additional 65,368 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of AutoZone by 30.4% in the first quarter. Goldman Sachs Group Inc. now owns 106,888 shares of the company's stock valued at $407,540,000 after buying an additional 24,933 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. TD Cowen raised their target price on shares of AutoZone from $4,300.00 to $4,900.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Roth Capital restated a "buy" rating and set a $4,750.00 price objective (down previously from $4,800.00) on shares of AutoZone in a report on Thursday. Cowen reaffirmed a "buy" rating on shares of AutoZone in a research report on Thursday, September 18th. DA Davidson reiterated a "buy" rating and set a $4,850.00 target price on shares of AutoZone in a research report on Wednesday. Finally, BNP Paribas Exane lifted their price target on AutoZone from $4,155.00 to $4,811.00 and gave the company an "outperform" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, AutoZone presently has an average rating of "Buy" and an average price target of $4,538.21.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by insiders.

AutoZone Stock Down 1.1%

AutoZone stock opened at $4,131.49 on Friday. The firm has a fifty day moving average of $4,069.65 and a 200-day moving average of $3,812.91. AutoZone, Inc. has a 52-week low of $2,980.10 and a 52-week high of $4,388.11. The firm has a market capitalization of $69.33 billion, a P/E ratio of 28.52, a PEG ratio of 2.31 and a beta of 0.41.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period last year, the company posted $51.58 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.

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