Northwest Investment Counselors LLC Has $3.79 Million Position in AutoZone, Inc. (NYSE:AZO)

Northwest Investment Counselors LLC cut its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,521 shares of the company’s stock after selling 11 shares during the period. AutoZone accounts for about 1.0% of Northwest Investment Counselors LLC’s investment portfolio, making the stock its 24th largest position. Northwest Investment Counselors LLC’s holdings in AutoZone were worth $3,792,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of AutoZone by 5,037.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,392,892 shares of the company’s stock valued at $58,264,000 after purchasing an additional 1,365,781 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of AutoZone by 107,977.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after purchasing an additional 698,613 shares in the last quarter. Gateway Advisory LLC lifted its holdings in AutoZone by 250,309.8% in the 1st quarter. Gateway Advisory LLC now owns 535,877 shares of the company’s stock worth $536,000 after purchasing an additional 535,663 shares during the last quarter. Royal Bank of Canada lifted its holdings in AutoZone by 368.0% in the 1st quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock worth $841,242,000 after purchasing an additional 323,536 shares during the last quarter. Finally, Norges Bank acquired a new stake in AutoZone in the 4th quarter worth approximately $658,788,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Down 1.8 %

NYSE:AZO traded down $46.42 on Friday, reaching $2,529.68. The stock had a trading volume of 266,989 shares, compared to its average volume of 159,919. The company has a market capitalization of $45.94 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.66. AutoZone, Inc. has a 1-year low of $2,050.21 and a 1-year high of $2,750.00. The stock has a fifty day moving average price of $2,505.11 and a 200-day moving average price of $2,509.72.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 92 Resources restated a “reiterates” rating on shares of AutoZone in a report on Tuesday, June 27th. Evercore ISI upped their price target on shares of AutoZone from $2,640.00 to $2,670.00 and gave the company an “outperform” rating in a report on Friday, September 8th. The Goldman Sachs Group decreased their price target on shares of AutoZone from $2,899.00 to $2,840.00 in a report on Tuesday, May 23rd. DA Davidson decreased their price target on shares of AutoZone from $2,425.00 to $2,340.00 in a report on Wednesday, May 24th. Finally, 3M restated an “upgrade” rating on shares of AutoZone in a report on Thursday, June 1st. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus price target of $2,714.42.

Insider Buying and Selling at AutoZone

In other news, VP Charles Pleas III sold 4,200 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $2,546.55, for a total transaction of $10,695,510.00. Following the sale, the vice president now owns 3,425 shares in the company, valued at $8,721,933.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Albert Saltiel sold 2,245 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $2,500.00, for a total value of $5,612,500.00. Following the completion of the sale, the vice president now owns 535 shares of the company’s stock, valued at $1,337,500. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Charles Pleas III sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $2,546.55, for a total transaction of $10,695,510.00. Following the completion of the sale, the vice president now directly owns 3,425 shares of the company’s stock, valued at approximately $8,721,933.75. The disclosure for this sale can be found here. Company insiders own 2.59% of the company’s stock.

AutoZone Profile

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.