Ameriprise Financial Inc. Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Ameriprise Financial Inc. cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 11.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,138 shares of the company’s stock after selling 20,978 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.91% of AutoZone worth $402,985,000 at the end of the most recent reporting period.

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

Insider Activity at AutoZone

In other 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 transaction of $5,612,500.00. Following the sale, the vice president now 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 available through the SEC website. In other news, VP Albert Saltiel sold 2,245 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $2,500.00, for a total transaction of $5,612,500.00. Following the sale, the vice president now directly owns 535 shares of the company’s stock, valued at approximately $1,337,500. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Charles Pleas III sold 4,200 shares of AutoZone stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $2,546.55, for a total value of $10,695,510.00. Following the completion of the transaction, the vice president now 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 company insiders.

Wall Street Analyst Weigh In

AZO has been the topic of several recent research reports. Northcoast Research initiated coverage on AutoZone in a research report on Wednesday, June 28th. They set a “neutral” rating on the stock. Wedbush raised their price target on shares of AutoZone from $2,600.00 to $2,750.00 in a report on Monday, May 22nd. Citigroup reduced their price objective on shares of AutoZone from $3,125.00 to $3,020.00 in a research note on Tuesday, May 30th. StockNews.com assumed coverage on shares of AutoZone in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group reduced their price target on AutoZone from $2,899.00 to $2,840.00 in a research report on Tuesday, May 23rd. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $2,714.42.

AutoZone Stock Up 1.8 %

Shares of AZO stock opened at $2,576.10 on Friday. AutoZone, Inc. has a 52-week low of $2,050.21 and a 52-week high of $2,750.00. The stock has a market cap of $46.77 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.43 and a beta of 0.66. The business has a 50-day simple moving average of $2,503.93 and a 200-day simple moving average of $2,509.86.

AutoZone Company 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.