Amundi Has $269.12 Million Position in AutoZone, Inc. $AZO

Key Points

• Amundi has reduced its holdings in AutoZone, Inc. by 19.3% in the 1st quarter, leaving it with 70,338 shares valued at approximately $269.1 million.
• Multiple analysts have raised their price targets for AutoZone, with some projecting an increase from $3,900 to as high as $4,900 and issuing predominantly Buy ratings.
• Insider trading activity shows significant sales, including a senior vice president selling 750 shares for $2.7 million, which represents a 64.88% decrease in their position.

Amundi lowered its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 19.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,338 shares of the company's stock after selling 16,781 shares during the quarter. Amundi owned 0.42% of AutoZone worth $269,124,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. Brighton Jones LLC grew its holdings in AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after buying an additional 14 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in AutoZone by 2.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 266 shares of the company's stock valued at $852,000 after buying an additional 6 shares during the last quarter. Bank of America Corp DE grew its holdings in AutoZone by 18.7% in the 4th quarter. Bank of America Corp DE now owns 122,538 shares of the company's stock valued at $392,367,000 after buying an additional 19,265 shares during the last quarter. Baird Financial Group Inc. grew its holdings in AutoZone by 2.2% in the 4th quarter. Baird Financial Group Inc. now owns 1,271 shares of the company's stock valued at $4,072,000 after buying an additional 27 shares during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of AutoZone during the 4th quarter worth approximately $429,000. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Trading Down 0.1%

AZO stock traded down $4.63 during trading on Tuesday, hitting $4,238.26. The company had a trading volume of 40,146 shares, compared to its average volume of 128,276. The company has a fifty day moving average price of $3,940.19 and a two-hundred day moving average price of $3,753.48. The company has a market cap of $71.12 billion, a P/E ratio of 28.69, a P/E/G ratio of 2.22 and a beta of 0.41. AutoZone, Inc. has a fifty-two week low of $2,898.57 and a fifty-two week high of $4,259.21.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. DA Davidson lifted their price objective on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Citigroup lifted their price objective on AutoZone from $3,900.00 to $4,900.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Mizuho lifted their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Finally, Truist Financial set a $3,995.00 price objective on AutoZone in a report on Friday, May 23rd. Three equities 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, AutoZone currently has an average rating of "Buy" and an average target price of $4,148.90.

Insider Buying and Selling at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction on 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 sale, the vice president owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the transaction, the senior vice president directly owned 406 shares in the company, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

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.