First Trust Direct Indexing L.P. Purchases 42 Shares of AutoZone, Inc. (NYSE:AZO)

First Trust Direct Indexing L.P. grew its position in AutoZone, Inc. (NYSE:AZO) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 479 shares of the company’s stock after purchasing an additional 42 shares during the period. First Trust Direct Indexing L.P.’s holdings in AutoZone were worth $1,510,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of AutoZone during the 1st quarter worth approximately $32,000. Riverview Trust Co bought a new stake in AutoZone during the first quarter worth $41,000. Turtle Creek Wealth Advisors LLC purchased a new position in AutoZone in the fourth quarter worth $54,000. Private Wealth Management Group LLC bought a new position in AutoZone in the 4th quarter valued at $54,000. Finally, Quarry LP purchased a new stake in shares of AutoZone during the 4th quarter valued at $70,000. 92.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AutoZone news, VP Jenna M. Bedsole purchased 36 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the transaction, the vice president now owns 36 shares in the company, valued at approximately $99,255.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

AutoZone Stock Down 0.9 %

NYSE:AZO traded down $25.12 during mid-day trading on Thursday, hitting $2,844.88. 88,678 shares of the stock traded hands, compared to its average volume of 146,570. AutoZone, Inc. has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The company has a market cap of $48.59 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.44 and a beta of 0.71. The business’s 50-day moving average price is $2,886.95 and its 200 day moving average price is $2,868.46.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the business earned $34.12 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts anticipate that AutoZone, Inc. will post 151.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Mizuho cut their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Barclays dropped their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Evercore ISI decreased their price target on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group dropped their price objective on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Finally, Morgan Stanley decreased their target price on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

AutoZone Company 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.