Contravisory Investment Management Inc. Sells 6 Shares of AutoZone, Inc. (NYSE:AZO)

Contravisory Investment Management Inc. reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 254 shares of the company’s stock after selling 6 shares during the quarter. Contravisory Investment Management Inc.’s holdings in AutoZone were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. raised its position in shares of AutoZone by 2.7% during the first quarter. Ameritas Investment Partners Inc. now owns 947 shares of the company’s stock valued at $2,328,000 after buying an additional 25 shares during the last quarter. Shelton Capital Management boosted its stake in AutoZone by 860.0% during the fourth quarter. Shelton Capital Management now owns 1,200 shares of the company’s stock worth $2,959,000 after buying an additional 1,075 shares during the period. Mirova increased its position in AutoZone by 25.8% during the fourth quarter. Mirova now owns 278 shares of the company’s stock valued at $686,000 after acquiring an additional 57 shares during the last quarter. Aviva PLC lifted its holdings in shares of AutoZone by 27.3% in the 4th quarter. Aviva PLC now owns 15,314 shares of the company’s stock worth $22,008,000 after acquiring an additional 3,288 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of AutoZone by 109.0% during the 4th quarter. Point72 Asset Management L.P. now owns 38,783 shares of the company’s stock worth $95,646,000 after purchasing an additional 20,230 shares during the period. Institutional investors own 90.34% of the company’s stock.

AutoZone Trading Up 0.1 %

AZO traded up $2.36 during trading hours on Monday, hitting $2,532.04. 69,310 shares of the company’s stock were exchanged, compared to its average volume of 159,374. The firm has a 50 day moving average of $2,505.11 and a 200 day moving average of $2,510.10. The firm has a market cap of $45.98 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.44 and a beta of 0.66. AutoZone, Inc. has a 12-month low of $2,050.21 and a 12-month high of $2,750.00.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AZO shares. Wedbush upped their price objective on shares of AutoZone from $2,600.00 to $2,750.00 in a research note on Monday, May 22nd. Northcoast Research assumed coverage on shares of AutoZone in a research note on Wednesday, June 28th. They set a “neutral” rating on the stock. UBS Group raised AutoZone from a “neutral” rating to a “buy” rating and upped their target price for the company from $2,800.00 to $2,900.00 in a research report on Friday, June 16th. DA Davidson cut their price objective on AutoZone from $2,425.00 to $2,340.00 in a report on Wednesday, May 24th. Finally, 92 Resources reiterated a “reiterates” rating on shares of AutoZone in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $2,714.42.

Insider Buying and Selling

In other news, VP Albert Saltiel sold 2,245 shares of AutoZone stock in a transaction 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 transaction, the vice president now directly owns 535 shares of the company’s stock, valued at approximately $1,337,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Albert Saltiel sold 2,245 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $2,500.00, for a total value of $5,612,500.00. Following the completion of the transaction, the vice president now owns 535 shares in the company, valued at $1,337,500. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Charles Pleas III sold 4,200 shares of the business’s stock in a transaction dated 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 transaction, 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. 2.59% of the stock is owned by insiders.

About AutoZone

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.