Envestnet Asset Management Inc. Grows Stake in AutoZone, Inc. (NYSE:AZO)

Envestnet Asset Management Inc. grew its position in AutoZone, Inc. (NYSE:AZO) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,789 shares of the company’s stock after purchasing an additional 3,930 shares during the quarter. Envestnet Asset Management Inc. owned about 0.32% of AutoZone worth $162,399,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its holdings in AutoZone by 6.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,820 shares of the company’s stock worth $8,359,000 after purchasing an additional 181 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in shares of AutoZone by 4.9% during the second quarter. Wealthspire Advisors LLC now owns 324 shares of the company’s stock valued at $960,000 after buying an additional 15 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of AutoZone by 48.5% during the second quarter. Thoroughbred Financial Services LLC now owns 815 shares of the company’s stock valued at $2,415,000 after buying an additional 266 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of AutoZone by 4.3% during the second quarter. Parallel Advisors LLC now owns 194 shares of the company’s stock valued at $576,000 after buying an additional 8 shares during the last quarter. Finally, Stoneridge Investment Partners LLC grew its holdings in shares of AutoZone by 12.1% during the second quarter. Stoneridge Investment Partners LLC now owns 741 shares of the company’s stock valued at $2,196,000 after buying an additional 80 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AZO. Wedbush reissued an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a report on Wednesday, July 10th. Barclays lowered their price target on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Guggenheim upped their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Citigroup lowered their price target on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, Morgan Stanley lowered their price target on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

AutoZone Stock Up 0.6 %

AZO opened at $3,123.36 on Monday. The company has a market cap of $53.36 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The company has a 50-day moving average price of $3,085.95 and a 200 day moving average price of $3,010.20.

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.