Lake Street Advisors Group LLC Acquires 62 Shares of AutoZone, Inc. (NYSE:AZO)

Lake Street Advisors Group LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 31.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 257 shares of the company’s stock after purchasing an additional 62 shares during the period. Lake Street Advisors Group LLC’s holdings in AutoZone were worth $810,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AZO. Wealthsource Partners LLC lifted its stake in shares of AutoZone by 3.2% in the fourth quarter. Wealthsource Partners LLC now owns 260 shares of the company’s stock worth $672,000 after acquiring an additional 8 shares during the period. Raymond James & Associates raised its stake in AutoZone by 13.2% during the fourth quarter. Raymond James & Associates now owns 33,731 shares of the company’s stock worth $87,215,000 after buying an additional 3,935 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in AutoZone by 0.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,667 shares of the company’s stock valued at $40,509,000 after buying an additional 125 shares during the period. Pacer Advisors Inc. boosted its position in AutoZone by 77.1% during the fourth quarter. Pacer Advisors Inc. now owns 2,562 shares of the company’s stock valued at $6,624,000 after acquiring an additional 1,115 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its position in AutoZone by 30.2% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $579,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AZO shares. Mizuho dropped their price objective on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Citigroup lowered their price objective on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Wedbush restated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research note on Wednesday, July 10th. Finally, Truist Financial cut their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Trading Up 2.7 %

Shares of NYSE:AZO traded up $80.13 during mid-day trading on Thursday, reaching $3,021.86. The company had a trading volume of 53,514 shares, compared to its average volume of 147,625. The company’s 50-day moving average price is $2,871.22 and its 200-day moving average price is $2,901.69. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The firm has a market cap of $51.61 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.46 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the prior year, the firm earned $34.12 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts anticipate that AutoZone, Inc. will post 151.59 EPS for the current fiscal year.

Insider Activity

In other AutoZone news, VP Jenna M. Bedsole purchased 36 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the purchase, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.50% of the company’s stock.

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.