AG2R LA Mondiale Gestion D Actifs Takes $2.46 Million Position in AutoZone, Inc. $AZO

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new position in AutoZone, Inc., investing approximately $2.46 million for 659 shares of the company's stock.
• Currently, 92.74% of AutoZone's stock is owned by institutional investors, indicating strong institutional interest in the company.
• Wall Street analysts maintain a positive outlook on AutoZone, with a consensus target price of $4,229.38 and multiple analysts rating the stock as "Buy" or better.

AG2R LA Mondiale Gestion D Actifs bought a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 659 shares of the company's stock, valued at approximately $2,460,000.

A number of other institutional investors have also made changes to their positions in the business. Forum Financial Management LP raised its holdings 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 during the last quarter. Focus Financial Network Inc. raised its holdings in shares of AutoZone by 2.9% in the first quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after buying an additional 3 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of AutoZone by 2.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after buying an additional 3 shares during the last quarter. Rappaport Reiches Capital Management LLC raised its holdings in shares of AutoZone by 4.8% in the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after buying an additional 3 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of AutoZone by 3.5% in the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after buying an additional 3 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Down 0.6%

Shares of NYSE:AZO opened at $4,327.37 on Friday. The stock has a market capitalization of $72.62 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.30 and a beta of 0.41. The business has a 50-day moving average price of $3,989.84 and a two-hundred day moving average price of $3,773.46. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,388.11.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed an "outperform" rating and issued a $4,100.00 price target (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Mizuho lifted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Morgan Stanley reissued an "overweight" rating and set a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Roth Capital set a $4,135.00 price objective on AutoZone and gave the stock a "buy" rating in a report on Monday, June 2nd. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $4,229.38.

Insider Transactions at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of the company's 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 completion of the sale, the vice president directly owned 2,925 shares of the company's stock, valued at $11,337,007.50. This represents a 50.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the senior vice president directly owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. 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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