GC Wealth Management RIA LLC Takes Position in AutoZone, Inc. $AZO

GC Wealth Management RIA LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 103 shares of the company’s stock, valued at approximately $382,000.

A number of other institutional investors also recently made changes to their positions in the business. Sound Income Strategies LLC boosted its stake in shares of AutoZone by 78.0% in the 2nd quarter. Sound Income Strategies LLC now owns 89 shares of the company’s stock valued at $330,000 after purchasing an additional 39 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of AutoZone in the 2nd quarter valued at $48,000. Financial Designs Corp purchased a new stake in shares of AutoZone in the 2nd quarter valued at $260,000. SFM LLC boosted its position in AutoZone by 3.8% during the 2nd quarter. SFM LLC now owns 272 shares of the company’s stock valued at $1,010,000 after buying an additional 10 shares during the period. Finally, KG&L Capital Management LLC boosted its position in AutoZone by 6.1% during the 2nd quarter. KG&L Capital Management LLC now owns 295 shares of the company’s stock valued at $1,095,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 1.1%

NYSE:AZO opened at $4,244.71 on Thursday. The company has a 50-day moving average price of $4,109.81 and a 200-day moving average price of $3,832.21. AutoZone, Inc. has a 12 month low of $2,980.10 and a 12 month high of $4,388.11. The stock has a market cap of $71.23 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.03 and a beta of 0.40.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The company had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the prior year, the business posted $51.58 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AZO. DA Davidson reissued a “buy” rating and set a $4,850.00 price target on shares of AutoZone in a research report on Wednesday, September 24th. Jefferies Financial Group increased their price target on shares of AutoZone from $4,255.00 to $4,750.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Wells Fargo & Company dropped their price target on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Citigroup dropped their price target on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Finally, BMO Capital Markets increased their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,538.21.

Insider Activity

In related news, VP John Scott Murphy sold 2,860 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. This trade represents a 69.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $11,627,700.00. Following the completion of the transaction, the vice president owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

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.