Acadian Asset Management LLC Trims Stock Position in AutoZone, Inc. $AZO

Acadian Asset Management LLC cut its position in shares of AutoZone, Inc. (NYSE:AZO) by 11.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 485 shares of the company’s stock after selling 63 shares during the quarter. Acadian Asset Management LLC’s holdings in AutoZone were worth $1,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Forum Financial Management LP grew its stake in shares of AutoZone by 2.2% in the fourth quarter. Forum Financial Management LP now owns 138 shares of the company’s stock valued at $443,000 after buying an additional 3 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in AutoZone by 2.9% during the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company’s stock worth $400,000 after buying an additional 3 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in AutoZone by 2.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company’s stock worth $538,000 after buying an additional 3 shares during the last quarter. Rappaport Reiches Capital Management LLC lifted its holdings in shares of AutoZone by 4.8% in the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company’s stock worth $252,000 after purchasing an additional 3 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of AutoZone by 3.5% in the 1st quarter. Blue Trust Inc. now owns 89 shares of the company’s stock worth $339,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In related news, SVP K. Michelle Borninkhof sold 750 shares of the firm’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president owned 406 shares of the company’s stock, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AZO has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research note on Monday. Roth Capital set a $4,135.00 target price on AutoZone and gave the company a “buy” rating in a report on Monday, June 2nd. Citigroup upped their target price on AutoZone from $3,900.00 to $4,900.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Wells Fargo & Company lifted their price target on AutoZone from $4,200.00 to $4,800.00 and gave the company an “overweight” rating in a report on Monday. Finally, DA Davidson lifted their price objective on AutoZone from $4,192.00 to $4,850.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, AutoZone has a consensus rating of “Buy” and a consensus target price of $4,315.10.

AutoZone Trading Down 0.4%

AZO stock opened at $4,217.47 on Wednesday. The firm has a market cap of $70.77 billion, a P/E ratio of 28.54, a P/E/G ratio of 2.23 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,388.11. The business’s 50 day moving average is $4,008.19 and its 200-day moving average is $3,786.61.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.