3,774 Shares in AutoZone, Inc. $AZO Acquired by Strs Ohio

Key Points

• Strs Ohio has acquired 3,774 shares of AutoZone, Inc. valued at approximately $14.39 million, indicating significant interest from institutional investors.
• Analyst upgrades include Barclays increasing AutoZone's price target from $3,916 to $4,610, alongside several other firms raising their ratings, reflecting positive sentiment on the stock.
• Currently, AutoZone's stock has a market cap of $72.62 billion, with the company's shares trading at around $4,327.37, showing substantial growth potential based on performance metrics.

Strs Ohio bought a new position in AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,774 shares of the company's stock, valued at approximately $14,389,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after acquiring an additional 3 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of AutoZone by 10.1% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock valued at $11,267,000 after acquiring an additional 271 shares during the period. Kirr Marbach & Co. LLC IN raised its holdings in shares of AutoZone by 0.9% during the first quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock valued at $29,591,000 after acquiring an additional 68 shares during the period. Banco Santander S.A. raised its holdings in shares of AutoZone by 98.3% during the first quarter. Banco Santander S.A. now owns 829 shares of the company's stock valued at $3,161,000 after acquiring an additional 411 shares during the period. Finally, Alpine Bank Wealth Management acquired a new stake in shares of AutoZone during the first quarter valued at approximately $545,000. 92.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AZO shares. Barclays boosted their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an "overweight" rating in a research report on Thursday. Bank of America raised shares of AutoZone from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a research report on Friday, May 23rd. DA Davidson boosted their price objective on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Citigroup boosted their price objective on shares of AutoZone from $3,900.00 to $4,900.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $4,229.38.

AutoZone Price Performance

NYSE:AZO opened at $4,327.37 on Friday. The stock has a market cap of $72.62 billion, a P/E ratio of 29.29, a PEG ratio of 2.30 and a beta of 0.41. AutoZone, Inc. has a one year low of $2,898.57 and a one year high of $4,388.11. The company has a fifty day moving average price of $3,989.84 and a 200 day moving average price of $3,776.14.

Insiders Place Their Bets

In other news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value 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 represents a 64.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

AutoZone Company Profile

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.

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