AutoZone, Inc. (NYSE:AZO) Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 744 shares of the company’s stock after acquiring an additional 5 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in AutoZone were worth $2,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parnassus Investments LLC boosted its holdings in AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after purchasing an additional 58,989 shares during the last quarter. LGT Capital Partners LTD. raised its stake in shares of AutoZone by 32.2% in the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock valued at $70,458,000 after acquiring an additional 6,630 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of AutoZone in the 4th quarter valued at approximately $879,000. SRS Capital Advisors Inc. raised its stake in shares of AutoZone by 49.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock valued at $401,000 after acquiring an additional 51 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of AutoZone in the 4th quarter valued at approximately $145,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AZO shares. Wedbush reduced their price target on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Guggenheim boosted their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Mizuho reduced their price target on shares of 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. Barclays cut their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,112.71.

AutoZone Trading Down 0.9 %

Shares of AutoZone stock opened at $2,844.88 on Thursday. The company has a fifty day simple moving average of $2,889.82 and a 200-day simple moving average of $2,868.62. AutoZone, Inc. has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The stock has a market cap of $48.59 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.49 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the prior year, the business posted $34.12 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts forecast that AutoZone, Inc. will post 151.57 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Jenna M. Bedsole bought 36 shares of the stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the acquisition, the vice president now owns 36 shares in the company, valued at approximately $99,255.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.50% 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.