Wealth Enhancement Advisory Services LLC Purchases 508 Shares of AutoZone, Inc. (NYSE:AZO)

Wealth Enhancement Advisory Services LLC lifted its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,961 shares of the company's stock after acquiring an additional 508 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in AutoZone were worth $19,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Headlands Technologies LLC bought a new position in AutoZone during the fourth quarter valued at about $29,000. Flagship Wealth Advisors LLC acquired a new stake in shares of AutoZone during the 4th quarter worth approximately $32,000. Harbour Investments Inc. increased its position in shares of 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 during the period. Minot DeBlois Advisors LLC acquired a new position in shares of AutoZone in the fourth quarter valued at $45,000. Finally, Itau Unibanco Holding S.A. lifted its position in AutoZone by 750.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company's stock worth $54,000 after purchasing an additional 15 shares during the period. Institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AZO shares. Wedbush reiterated an "outperform" rating and set a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, March 5th. Roth Mkm lifted their target price on AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Mizuho raised their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. Truist Financial set a $3,995.00 target price on shares of AutoZone in a report on Friday, May 23rd. Finally, The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a research note on Friday, May 23rd. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, AutoZone presently has an average rating of "Buy" and a consensus price target of $4,054.52.

AutoZone Trading Down 0.8%

AutoZone stock traded down $30.26 during trading hours on Wednesday, reaching $3,717.74. 95,052 shares of the stock were exchanged, compared to its average volume of 129,414. AutoZone, Inc. has a twelve month low of $2,750.53 and a twelve month high of $3,916.81. The company has a market cap of $62.39 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40. The stock has a 50 day moving average of $3,697.68 and a two-hundred day moving average of $3,479.05.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business's revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $36.69 EPS. On average, analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the completion of the transaction, the chief executive officer now owns 163 shares of the company's stock, valued at approximately $619,401.63. This represents a 92.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the completion of the sale, the chief financial officer now owns 427 shares in the company, valued at approximately $1,591,877.35. The trade was a 85.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,973 shares of company stock worth $51,346,997 over the last three months. Insiders own 2.10% of the company's stock.

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.