Edgestream Partners L.P. Has $668,000 Holdings in AutoZone, Inc. (NYSE:AZO)

Edgestream Partners L.P. increased its stake in AutoZone, Inc. (NYSE:AZO) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 212 shares of the company’s stock after purchasing an additional 23 shares during the period. Edgestream Partners L.P.’s holdings in AutoZone were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AZO. Rise Advisors LLC acquired a new position in AutoZone in the 1st quarter worth $32,000. Riverview Trust Co bought a new stake in AutoZone during the 1st quarter worth about $41,000. Turtle Creek Wealth Advisors LLC bought a new stake in AutoZone during the 4th quarter worth about $54,000. Private Wealth Management Group LLC bought a new stake in AutoZone during the 4th quarter worth about $54,000. Finally, Quarry LP bought a new stake in AutoZone during the 4th quarter worth about $70,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZO has been the topic of a number of research analyst reports. Truist Financial dropped their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Wednesday, July 10th. Morgan Stanley decreased their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Oppenheimer restated a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Finally, UBS Group decreased their target price 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. Three 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3,112.71.

Insiders Place Their Bets

In related news, VP Jenna M. Bedsole purchased 36 shares of AutoZone stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the acquisition, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.

AutoZone Price Performance

NYSE AZO traded down $11.40 during mid-day trading on Wednesday, reaching $2,910.13. 41,645 shares of the stock were exchanged, compared to its average volume of 147,663. The stock has a market cap of $49.71 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.48 and a beta of 0.71. The stock has a 50 day simple moving average of $2,870.98 and a 200-day simple moving average of $2,901.41. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company posted $34.12 earnings per share. Sell-side analysts anticipate that AutoZone, Inc. will post 151.59 EPS for the current fiscal year.

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.