American Trust Makes New Investment in AutoZone, Inc. (NYSE:AZO)

American Trust purchased a new stake in shares of AutoZone, Inc. (NYSE:AZOGet Rating) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 235 shares of the company’s stock, valued at approximately $480,000.

Several other institutional investors have also made changes to their positions in AZO. Equitable Holdings Inc. lifted its holdings in shares of AutoZone by 11.9% during the 4th quarter. Equitable Holdings Inc. now owns 489 shares of the company’s stock valued at $1,025,000 after buying an additional 52 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AutoZone by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 443,157 shares of the company’s stock valued at $927,398,000 after buying an additional 3,608 shares during the last quarter. MKT Advisors LLC acquired a new stake in shares of AutoZone during the 4th quarter valued at about $651,000. Primecap Management Co. CA lifted its holdings in shares of AutoZone by 3.4% during the 4th quarter. Primecap Management Co. CA now owns 6,075 shares of the company’s stock valued at $12,736,000 after buying an additional 200 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in shares of AutoZone by 1.2% during the 4th quarter. American International Group Inc. now owns 6,624 shares of the company’s stock valued at $13,886,000 after buying an additional 77 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William C. Rhodes III sold 2,958 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total transaction of $6,526,324.14. Following the sale, the chief executive officer now directly owns 15,935 shares in the company, valued at $35,157,868.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AutoZone news, VP Domingo Hurtado sold 395 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $2,217.53, for a total value of $875,924.35. Following the sale, the vice president now directly owns 362 shares in the company, valued at $802,745.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William C. Rhodes III sold 2,958 shares of the company’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the completion of the sale, the chief executive officer now owns 15,935 shares in the company, valued at $35,157,868.55. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on AutoZone from $2,350.00 to $2,450.00 and gave the stock an “overweight” rating in a report on Friday, September 9th. Stephens boosted their target price on AutoZone from $2,195.00 to $2,285.00 and gave the stock an “overweight” rating in a report on Thursday, May 26th. Wedbush restated an “outperform” rating on shares of AutoZone in a report on Monday, May 23rd. Truist Financial reduced their target price on AutoZone from $2,215.00 to $2,174.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Finally, Morgan Stanley upgraded AutoZone from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $2,125.00 to $2,420.00 in a report on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,172.94.

AutoZone Trading Up 1.0 %

AZO opened at $2,165.65 on Friday. The stock has a market cap of $42.21 billion, a PE ratio of 19.21, a P/E/G ratio of 1.53 and a beta of 0.78. AutoZone, Inc. has a 1 year low of $1,559.43 and a 1 year high of $2,362.24. The stock’s 50 day simple moving average is $2,191.02 and its 200-day simple moving average is $2,089.96.

About AutoZone

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AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

Further Reading

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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