Ashton Thomas Private Wealth LLC Sells 491 Shares of AutoZone, Inc. $AZO

Key Points

• Ashton Thomas Private Wealth LLC has reduced its stake in AutoZone, selling 491 shares and now holds only 246 shares valued at approximately $938,000.
• Institutional investors collectively own 92.74% of AutoZone stock, with several hedge funds increasing their holdings in the fourth quarter.
• AutoZone's stock opened at $4,255.33 with a market capitalization of $71.40 billion, showing a recent price target increase by analysts.

Ashton Thomas Private Wealth LLC lessened its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 66.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 246 shares of the company's stock after selling 491 shares during the period. Ashton Thomas Private Wealth LLC's holdings in AutoZone were worth $938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after buying an additional 14 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of AutoZone in the 4th quarter worth $45,000. NorthRock Partners LLC bought a new position in shares of AutoZone in the 4th quarter worth $311,000. Nomura Holdings Inc. bought a new position in shares of AutoZone in the 4th quarter worth $1,780,000. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in shares of AutoZone by 49.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 33,364 shares of the company's stock worth $108,153,000 after buying an additional 10,987 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

AutoZone Stock Down 0.8%

Shares of AZO opened at $4,255.33 on Thursday. The stock has a market capitalization of $71.40 billion, a P/E ratio of 28.80, a PEG ratio of 2.26 and a beta of 0.41. The firm has a fifty day simple moving average of $3,963.00 and a two-hundred day simple moving average of $3,760.65. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,304.94.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the sale, the senior vice president owned 406 shares of the company's stock, valued at $1,460,434.78. This represents a 64.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction on Thursday, July 24th. The shares were 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 of the company's stock, valued at $11,337,007.50. The trade was 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.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Evercore ISI increased their price target on shares of AutoZone from $4,060.00 to $4,250.00 and gave the stock an "outperform" rating in a report on Monday, August 18th. Morgan Stanley reissued an "overweight" rating and issued a $4,000.00 price target (up previously 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 shares of AutoZone and gave the company a "buy" rating in a research note on Monday, June 2nd. Guggenheim upped their price objective on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Citigroup upped 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 note on Wednesday, September 3rd. Three 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 has a consensus rating of "Buy" and a consensus target price of $4,148.90.

AutoZone 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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