NewEdge Advisors LLC Buys 62 Shares of AutoZone, Inc. $AZO

Key Points

• NewEdge Advisors LLC increased its stake in AutoZone, Inc. by 5.2% in the first quarter, bringing its holdings to $4.82 million after acquiring an additional 62 shares.
• The current price target for AutoZone’s stock varies among analysts, with Bank of America raising it from $3,900 to $4,800, while others set targets around $4,100.
• Recent insider selling includes VP Richard Craig Smith, who sold 3,000 shares valued at about $11.63 million, reducing his ownership by over 50%.

NewEdge Advisors LLC raised its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,264 shares of the company's stock after acquiring an additional 62 shares during the quarter. NewEdge Advisors LLC's holdings in AutoZone were worth $4,821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AZO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of AutoZone by 17.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,232 shares of the company's stock worth $8,510,000 after purchasing an additional 326 shares during the last quarter. Interval Partners LP bought a new stake in shares of AutoZone in the first quarter worth about $64,318,000. DoubleLine ETF Adviser LP bought a new stake in shares of AutoZone in the first quarter worth about $1,506,000. Eventide Asset Management LLC bought a new stake in shares of AutoZone in the first quarter worth about $581,000. Finally, Concentric Capital Strategies LP bought a new stake in shares of AutoZone in the first quarter worth about $1,887,000. 92.74% of the stock is owned by institutional investors.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's 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 value of $2,697,847.50. Following the transaction, the senior vice president owned 406 shares of the company's stock, valued at $1,460,434.78. This trade represents a 64.88% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AZO shares. Raymond James Financial reaffirmed a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. JPMorgan Chase & Co. lifted their target price on AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. DA Davidson lifted their price target on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a research report on Friday, May 23rd. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, AutoZone has an average rating of "Buy" and an average target price of $4,229.38.

AutoZone Stock Down 0.6%

AZO traded down $27.17 on Friday, hitting $4,327.37. The company had a trading volume of 100,875 shares, compared to its average volume of 99,795. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,388.11. The business's fifty day simple moving average is $3,989.84 and its 200 day simple moving average is $3,773.46. The company has a market cap of $72.62 billion, a PE ratio of 29.29, a PEG ratio of 2.30 and a beta of 0.41.

AutoZone 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.