Fulton Bank N.A. Lowers Stake in AutoZone, Inc. (NYSE:AZO)

Fulton Bank N.A. reduced its holdings in shares of AutoZone, Inc. (NYSE:AZOGet Rating) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 386 shares of the company’s stock after selling 35 shares during the period. Fulton Bank N.A.’s holdings in AutoZone were worth $830,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. GoalVest Advisory LLC purchased a new position in AutoZone in the second quarter worth about $910,000. Silverleafe Capital Partners LLC raised its holdings in AutoZone by 1.0% in the second quarter. Silverleafe Capital Partners LLC now owns 2,540 shares of the company’s stock worth $5,458,000 after buying an additional 25 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in AutoZone by 5.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,927 shares of the company’s stock worth $8,029,000 after buying an additional 200 shares during the last quarter. Offit Capital Advisors LLC raised its holdings in AutoZone by 21.3% in the first quarter. Offit Capital Advisors LLC now owns 228 shares of the company’s stock worth $466,000 after buying an additional 40 shares during the last quarter. Finally, American Trust purchased a new position in AutoZone in the first quarter worth about $480,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

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

AutoZone Price Performance

Shares of NYSE:AZO opened at $2,165.65 on Friday. AutoZone, Inc. has a 1-year low of $1,559.43 and a 1-year high of $2,362.24. The company has a market capitalization of $42.21 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.53 and a beta of 0.78. The firm’s 50 day simple moving average is $2,191.02 and its two-hundred day simple moving average is $2,089.96.

Analysts Set New Price Targets

Several brokerages have issued reports on AZO. Wells Fargo & Company lifted their target price on shares of AutoZone from $2,350.00 to $2,450.00 and gave the stock an “overweight” rating in a report on Friday, September 9th. UBS Group lifted their price target on shares of AutoZone from $2,100.00 to $2,260.00 and gave the stock a “neutral” rating in a research note on Monday, September 12th. Morgan Stanley upgraded shares of AutoZone from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $2,125.00 to $2,420.00 in a research note on Thursday, June 16th. DA Davidson lifted their price target on shares of AutoZone from $1,900.00 to $1,920.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 25th. Finally, MKM Partners initiated coverage on shares of AutoZone in a research note on Thursday, June 23rd. They issued a “buy” rating and a $2,350.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,172.94.

AutoZone Company Profile

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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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