Strategic Financial Concepts LLC Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Strategic Financial Concepts LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 142,992 shares of the company’s stock, valued at approximately $424,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Rise Advisors LLC bought a new stake in AutoZone during the first quarter valued at approximately $32,000. Riverview Trust Co purchased a new stake in shares of AutoZone during the 1st quarter valued at $41,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of AutoZone during the 2nd quarter worth $50,000. ORG Partners LLC purchased a new position in AutoZone in the second quarter worth $50,000. Finally, Private Wealth Management Group LLC bought a new position in AutoZone in the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,115.44 on Tuesday. The stock’s 50-day moving average is $3,064.00 and its 200 day moving average is $3,003.35. The company has a market cap of $53.22 billion, a PE ratio of 21.55, a P/E/G ratio of 1.44 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37.

Wall Street Analysts Forecast Growth

AZO has been the subject of several research analyst reports. Wolfe Research dropped their price target on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research note on Wednesday, May 22nd. Morgan Stanley cut their target price on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. UBS Group reduced their price target on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Oppenheimer restated a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a report on Wednesday, June 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,112.71.

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.