Atticus Wealth Management LLC Takes $241,000 Position in AutoZone, Inc. $AZO

Key Points

• Atticus Wealth Management LLC purchased a new stake in AutoZone, Inc., buying 65 shares valued at approximately $241,000 during Q2.
• Multiple institutional investors have increased their holdings in AutoZone, with 92.74% of the stock now owned by hedge funds and other institutional investors.
• Analysts have recently upgraded price targets for AutoZone, with estimates reaching up to $4,900, reflecting strong demand and positive market sentiment.

Atticus Wealth Management LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 65 shares of the company's stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wedmont Private Capital raised its position in shares of AutoZone by 5.6% in the second quarter. Wedmont Private Capital now owns 246 shares of the company's stock valued at $921,000 after buying an additional 13 shares during the last quarter. Swedbank AB grew its holdings in AutoZone by 51.9% in the second quarter. Swedbank AB now owns 25,602 shares of the company's stock valued at $95,041,000 after purchasing an additional 8,747 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of AutoZone by 0.5% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,252 shares of the company's stock valued at $8,360,000 after buying an additional 12 shares during the period. Focus Financial Network Inc. grew its stake in shares of AutoZone by 3.8% during the 2nd quarter. Focus Financial Network Inc. now owns 109 shares of the company's stock valued at $405,000 after buying an additional 4 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in shares of AutoZone during the 2nd quarter valued at $356,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Buying and Selling

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction that occurred on 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 transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

AutoZone Stock Performance

Shares of NYSE AZO traded down $4.13 during mid-day trading on Monday, reaching $4,136.23. 70,592 shares of the company traded hands, compared to its average volume of 129,121. The stock has a market cap of $69.41 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 2.29 and a beta of 0.41. The company's fifty day moving average is $4,034.29 and its two-hundred day moving average is $3,801.55. AutoZone, Inc. has a fifty-two week low of $2,898.57 and a fifty-two week high of $4,388.11.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley restated 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. Barclays raised their price target on AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Evercore ISI boosted their price objective on AutoZone from $4,250.00 to $4,500.00 and gave the stock an "outperform" rating in a research report on Thursday. Truist Financial boosted their price objective on AutoZone from $4,038.00 to $4,504.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, UBS Group boosted their price target on AutoZone from $4,260.00 to $4,925.00 and gave the stock a "buy" rating in a research report on Thursday, September 11th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $4,449.18.

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.