AutoZone, Inc. (NYSE:AZO) Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,071 shares of the company’s stock after purchasing an additional 23 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in AutoZone were worth $44,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AZO. Rise Advisors LLC purchased a new position in shares of AutoZone during the first quarter worth about $32,000. Riverview Trust Co purchased a new position in shares of AutoZone during the first quarter worth about $41,000. Meeder Asset Management Inc. grew its holdings in shares of AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of AutoZone during the second quarter worth about $50,000. Finally, ORG Partners LLC purchased a new position in shares of AutoZone during the second quarter worth about $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,196.61 on Monday. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The company has a market capitalization of $54.61 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.43 and a beta of 0.71. The business has a 50 day moving average price of $3,121.63 and a 200 day moving average price of $3,011.39.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the prior year, the firm earned $46.46 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts expect that AutoZone, Inc. will post 151.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on AZO. Truist Financial lowered their price target on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Morgan Stanley lifted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Evercore ISI lowered their price objective on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Citigroup lowered their price objective on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $3,169.38.

Insider Buying and Selling

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.