AutoZone, Inc. (NYSE:AZO) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in shares of AutoZone, Inc. (NYSE:AZOGet Rating) by 40.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,935 shares of the company’s stock after selling 2,630 shares during the period. State of Alaska Department of Revenue’s holdings in AutoZone were worth $8,456,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in AutoZone by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 443,157 shares of the company’s stock worth $927,398,000 after buying an additional 3,608 shares during the period. Primecap Management Co. CA lifted its position in AutoZone by 3.4% during the fourth quarter. Primecap Management Co. CA now owns 6,075 shares of the company’s stock worth $12,736,000 after buying an additional 200 shares during the period. American International Group Inc. lifted its position in AutoZone by 1.2% during the fourth quarter. American International Group Inc. now owns 6,624 shares of the company’s stock worth $13,886,000 after buying an additional 77 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in AutoZone by 7.5% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,727 shares of the company’s stock worth $7,813,000 after buying an additional 260 shares during the period. Finally, Schroder Investment Management Group lifted its position in AutoZone by 12.0% during the fourth quarter. Schroder Investment Management Group now owns 95,263 shares of the company’s stock worth $199,709,000 after buying an additional 10,240 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Stephens increased their target price on AutoZone from $2,195.00 to $2,285.00 and gave the stock an “overweight” rating in a research report on Thursday, May 26th. MKM Partners initiated coverage on AutoZone in a report on Thursday, June 23rd. They issued a “buy” rating and a $2,350.00 price objective on the stock. The Goldman Sachs Group upgraded AutoZone from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $1,969.00 to $2,296.00 in a report on Monday, June 27th. DA Davidson raised their price objective on AutoZone from $1,900.00 to $1,920.00 and gave the stock a “neutral” rating in a report on Wednesday, May 25th. Finally, Truist Financial cut their price objective on AutoZone from $2,215.00 to $2,174.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. One investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,172.94.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $2,165.65 on Monday. The company has a market cap of $42.20 billion, a P/E ratio of 19.21, a PEG ratio of 1.55 and a beta of 0.78. AutoZone, Inc. has a one year low of $1,559.43 and a one year high of $2,362.24. The business’s 50-day simple moving average is $2,191.02 and its 200 day simple moving average is $2,091.44.

Insider Activity at AutoZone

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

AutoZone 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.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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