Alliancebernstein L.P. lowered its stake in AutoZone, Inc. (NYSE:AZO) by 61.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,744 shares of the company’s stock after selling 120,614 shares during the period. Alliancebernstein L.P. owned approximately 0.27% of AutoZone worth $43,779,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in AZO. BlackRock Inc. increased its holdings in shares of AutoZone by 2,993.2% in the first quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after purchasing an additional 1,964,358 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of AutoZone by 59.7% in the second quarter. JPMorgan Chase & Co. now owns 1,018,416 shares of the company’s stock valued at $580,966,000 after purchasing an additional 380,824 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of AutoZone by 103.6% in the first quarter. OppenheimerFunds Inc. now owns 693,624 shares of the company’s stock valued at $501,525,000 after purchasing an additional 352,990 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of AutoZone in the first quarter valued at approximately $114,285,000. Finally, Burgundy Asset Management Ltd. increased its holdings in shares of AutoZone by 35.8% in the first quarter. Burgundy Asset Management Ltd. now owns 401,278 shares of the company’s stock valued at $290,144,000 after purchasing an additional 105,796 shares during the period. 96.06% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on AZO shares. Royal Bank Of Canada dropped their target price on AutoZone from $829.00 to $753.00 and set a “sector perform” rating on the stock in a report on Monday, May 22nd. Citigroup Inc. lowered AutoZone from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, May 23rd. Raymond James Financial, Inc. lowered AutoZone from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, May 23rd. Oppenheimer Holdings, Inc. set a $900.00 target price on AutoZone and gave the company a “buy” rating in a report on Tuesday, May 23rd. Finally, Stephens lowered AutoZone from an “overweight” rating to an “equal weight” rating in a report on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $776.64.
Shares of AutoZone, Inc. (AZO) opened at 569.89 on Friday. The firm has a 50-day moving average price of $533.51 and a 200 day moving average price of $615.92. The firm has a market cap of $15.97 billion, a price-to-earnings ratio of 13.16 and a beta of 0.62. AutoZone, Inc. has a 12-month low of $491.13 and a 12-month high of $813.70.
In other news, Director William Andrew Mckenna purchased 300 shares of the stock in a transaction dated Thursday, July 13th. The shares were bought at an average cost of $507.00 per share, for a total transaction of $152,100.00. Following the transaction, the director now owns 5,131 shares in the company, valued at $2,601,417. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William T. Giles sold 10,000 shares of AutoZone stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total value of $5,811,000.00. Following the transaction, the vice president now owns 18,500 shares in the company, valued at $10,750,350. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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