Envestnet Asset Management Inc. Has $259.76 Million Holdings in AutoZone, Inc. $AZO

Envestnet Asset Management Inc. grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,028 shares of the company’s stock after purchasing an additional 3,307 shares during the period. Envestnet Asset Management Inc. owned about 0.42% of AutoZone worth $259,758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in shares of AutoZone by 6.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,000 shares of the company’s stock worth $22,273,000 after purchasing an additional 355 shares in the last quarter. Wealthfront Advisers LLC grew its position in shares of AutoZone by 3.3% during the 2nd quarter. Wealthfront Advisers LLC now owns 1,518 shares of the company’s stock worth $5,635,000 after purchasing an additional 49 shares in the last quarter. Anthracite Investment Company Inc. boosted its position in shares of AutoZone by 22.2% during the 2nd quarter. Anthracite Investment Company Inc. now owns 1,100 shares of the company’s stock worth $4,083,000 after acquiring an additional 200 shares in the last quarter. Brighton Jones LLC boosted its position in shares of AutoZone by 141.5% during the 2nd quarter. Brighton Jones LLC now owns 297 shares of the company’s stock worth $1,102,000 after acquiring an additional 174 shares in the last quarter. Finally, Stegent Equity Advisors Inc. boosted its position in shares of AutoZone by 5.3% during the 2nd quarter. Stegent Equity Advisors Inc. now owns 119 shares of the company’s stock worth $442,000 after acquiring an additional 6 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays increased their price target on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Wells Fargo & Company reduced their price target on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AutoZone in a research report on Friday. Mizuho increased their price target on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an “outperform” rating in a research report on Thursday, July 3rd. Finally, Raymond James Financial reduced their price target on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $4,544.68.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,801.30 on Monday. AutoZone, Inc. has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11. The firm has a market capitalization of $63.79 billion, a P/E ratio of 26.24, a P/E/G ratio of 1.79 and a beta of 0.40. The company’s 50 day moving average price is $4,141.67 and its two-hundred day moving average price is $3,879.18.

AutoZone (NYSE:AZO) last issued its 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 net margin of 13.19% and a negative return on equity of 60.49%. The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the business earned $51.58 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has approved a share repurchase program on Wednesday, October 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of AutoZone stock in a transaction on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the transaction, the chief executive officer owned 55 shares in the company, valued at approximately $221,148.40. This trade represents a 97.87% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by 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.