AutoZone, Inc. (NYSE:AZO) Shares Acquired by Guardian Wealth Management Inc.

Guardian Wealth Management Inc. lifted its stake in AutoZone, Inc. (NYSE:AZO) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,847 shares of the company’s stock after purchasing an additional 22 shares during the period. AutoZone accounts for 4.2% of Guardian Wealth Management Inc.’s portfolio, making the stock its 3rd largest position. Guardian Wealth Management Inc.’s holdings in AutoZone were worth $5,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of AutoZone during the fourth quarter worth about $678,350,000. PineStone Asset Management Inc. grew its stake in AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in AutoZone in the second quarter valued at approximately $424,000. Captrust Financial Advisors grew its stake in AutoZone by 564.2% in the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after purchasing an additional 129,193 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in AutoZone by 2,714.8% in the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,116.82 on Friday. AutoZone, Inc. has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The stock has a market capitalization of $53.24 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. The stock has a fifty day moving average of $3,085.95 and a 200-day moving average of $3,009.85.

Analyst Ratings Changes

A number of research analysts have weighed in on AZO shares. Barclays decreased their price target on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Morgan Stanley reduced 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. Wedbush reiterated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research note on Wednesday, July 10th. Citigroup reduced their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Finally, Wolfe Research reduced their target price 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. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.