B. Riley Wealth Management Inc. Purchases Shares of 297 AutoZone, Inc. (NYSE:AZO)

B. Riley Wealth Management Inc. purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 297 shares of the company’s stock, valued at approximately $443,000.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. boosted its position in AutoZone by 26.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,134,026 shares of the company’s stock valued at $1,592,512,000 after buying an additional 239,250 shares during the period. Nordea Investment Management AB lifted its position in shares of AutoZone by 5.7% during the 1st quarter. Nordea Investment Management AB now owns 641,573 shares of the company’s stock worth $906,626,000 after purchasing an additional 34,354 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of AutoZone by 6.4% during the 1st quarter. Geode Capital Management LLC now owns 429,353 shares of the company’s stock worth $601,751,000 after purchasing an additional 25,672 shares during the last quarter. Deutsche Bank AG lifted its position in shares of AutoZone by 2.9% during the 2nd quarter. Deutsche Bank AG now owns 300,554 shares of the company’s stock worth $448,493,000 after purchasing an additional 8,445 shares during the last quarter. Finally, First Manhattan Co. lifted its position in shares of AutoZone by 6.0% during the 1st quarter. First Manhattan Co. now owns 254,143 shares of the company’s stock worth $356,893,000 after purchasing an additional 14,365 shares during the last quarter. 87.65% of the stock is owned by institutional investors.

AZO has been the subject of several recent analyst reports. Morgan Stanley lifted their price objective on shares of AutoZone from $1,650.00 to $1,710.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Wedbush lifted their price objective on shares of AutoZone from $1,650.00 to $1,820.00 and gave the stock an “outperform” rating in a research report on Wednesday. Credit Suisse Group lifted their price objective on shares of AutoZone from $1,660.00 to $1,785.00 and gave the stock an “outperform” rating in a research report on Wednesday. Raymond James lifted their price target on shares of AutoZone from $1,750.00 to $1,800.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Citigroup lifted their price target on shares of AutoZone from $1,870.00 to $1,950.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $1,651.89.

In related news, CEO William C. Rhodes III sold 4,500 shares of the business’s stock in a transaction dated Friday, September 24th. The shares were sold at an average price of $1,682.81, for a total transaction of $7,572,645.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William C. Rhodes III sold 14,535 shares of the business’s stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $1,511.74, for a total transaction of $21,973,140.90. Following the sale, the chief executive officer now directly owns 33,491 shares in the company, valued at approximately $50,629,684.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,444 shares of company stock worth $71,603,903. Insiders own 2.80% of the company’s stock.

NYSE AZO opened at $1,694.83 on Friday. The firm has a market cap of $36.52 billion, a PE ratio of 18.63, a P/E/G ratio of 1.46 and a beta of 0.94. AutoZone, Inc. has a one year low of $1,085.85 and a one year high of $1,704.02. The firm’s fifty day moving average is $1,603.83 and its two-hundred day moving average is $1,497.80.

AutoZone (NYSE:AZO) last issued its earnings results on Monday, September 20th. The company reported $35.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $30.20 by $5.52. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.57 billion. AutoZone had a net margin of 14.90% and a negative return on equity of 163.72%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $30.93 earnings per share. Research analysts anticipate that AutoZone, Inc. will post 89.51 EPS for the current year.

AutoZone Profile

AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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