Envestnet Portfolio Solutions Inc. Has $798.96 Million Position in AutoZone, Inc. $AZO

Envestnet Portfolio Solutions Inc. increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 247,417.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 249,993 shares of the company’s stock after acquiring an additional 249,892 shares during the period. AutoZone comprises about 3.5% of Envestnet Portfolio Solutions Inc.’s portfolio, making the stock its 4th biggest position. Envestnet Portfolio Solutions Inc. owned about 1.53% of AutoZone worth $798,963,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of AutoZone during the second quarter valued at about $3,938,566,000. Norges Bank acquired a new position in shares of AutoZone in the fourth quarter valued at approximately $939,205,000. First Manhattan CO. LLC. increased its stake in shares of AutoZone by 2.7% in the fourth quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock valued at $886,246,000 after buying an additional 6,765 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in AutoZone in the 2nd quarter valued at approximately $572,885,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AutoZone by 11,577.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 141,066 shares of the company’s stock valued at $450,838,000 after buying an additional 139,858 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock traded down $46.57 during midday trading on Wednesday, reaching $2,848.16. The company had a trading volume of 652,550 shares, compared to its average volume of 261,270. The stock has a fifty day moving average price of $2,986.72 and a 200 day moving average price of $3,205.00. AutoZone, Inc. has a fifty-two week low of $2,764.88 and a fifty-two week high of $4,332.68. The firm has a market cap of $46.51 billion, a PE ratio of 19.58, a P/E/G ratio of 1.41 and a beta of 0.34.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the firm posted $48.71 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that AutoZone, Inc. will post 150.61 EPS for the current year.

AutoZone announced that its Board of Directors has approved a share buyback plan on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

More AutoZone News

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: AutoZone reported fiscal fourth-quarter diluted EPS of $56.05, up from $48.71 a year earlier and above analyst expectations. Net sales rose 5.6% to approximately $6.6 billion, while operating profit increased 10.1% to $1.3 billion. AutoZone fourth-quarter results
• Positive Sentiment: Gross margin improved to 53.3%, helped by tariff refunds and a favorable non-cash LIFO comparison. The company also repurchased about $697.5 million of stock and opened 175 stores during the quarter, supporting per-share results and its long-term expansion strategy. AutoZone earnings and margin gains
• Positive Sentiment: Management said AutoZone is well positioned for sales growth in fiscal 2027, with commercial sales and international operations providing momentum. International same-store sales increased 10.7%, and investors have viewed the company as gaining market share while expanding its store network. Why AutoZone stock rallied
• Neutral Sentiment: Analysts remain broadly constructive, but several firms lowered their targets after the report: Roth Capital cut its target to $3,850, while BMO Capital Markets and DA Davidson reduced theirs to $3,500. Raymond James, Roth and DA Davidson retained bullish ratings, while Mizuho and Baird maintained neutral ratings. AutoZone analyst target changes
• Negative Sentiment: Revenue fell short of consensus estimates, and same-store sales growth was modest at 1.5% on a constant-currency basis domestically and internationally combined. Investors are concerned that the earnings beat was partly driven by tariff refunds and accounting benefits rather than solely by underlying demand. AutoZone earnings beat and sales miss

Insider Activity at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the sale, the vice president directly owned 441 shares in the company, valued at $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the topic of a number of research reports. BMO Capital Markets reduced their target price on shares of AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating on the stock in a report on Wednesday. BNP Paribas Exane dropped their price target on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Piper Sandler set a $3,500.00 price target on shares of AutoZone in a report on Monday, August 31st. Roth Capital cut their price target on shares of AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Truist Financial reduced their price objective on shares of AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $3,724.58.

AutoZone Profile

AutoZone, Inc is a retailer and distributor of automotive replacement parts, accessories, and maintenance products. The company serves do-it-yourself customers, professional service technicians, and commercial repair businesses through its stores, distribution network, and online platform.

Its product offerings include replacement parts such as batteries, brakes, engine components, and ignition products, along with tools, fluids, filters, and other automotive accessories. AutoZone also provides services such as parts lookup, diagnostic assistance, battery testing and charging, and loaner tools for eligible repairs.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional locations in Mexico and Brazil.