Federation des caisses Desjardins du Quebec Has $25.17 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in AutoZone, Inc. by 3.4%, now holding 6,598 shares worth approximately $25 million as of the latest SEC filing.
• Analysts have set high price targets for AutoZone, with Wells Fargo's target at $4,200 and Morgan Stanley's at $4,000, indicating strong optimism about the stock's future performance.
• Insider selling was notable as VP Richard Craig Smith sold 3,000 shares and Chairman William C. Rhodes III sold 27,500 shares, reflecting a significant reduction in their holdings.

Federation des caisses Desjardins du Quebec lowered its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,598 shares of the company's stock after selling 233 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in AutoZone were worth $25,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in AutoZone by 435,031.1% during the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares during the last quarter. Nuveen LLC purchased a new position in AutoZone during the 1st quarter worth $442,530,000. JPMorgan Chase & Co. increased its holdings in shares of AutoZone by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after acquiring an additional 65,368 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of AutoZone in the fourth quarter worth about $95,480,000. Finally, Deutsche Bank AG boosted its position in AutoZone by 14.6% in the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock worth $655,840,000 after purchasing an additional 26,036 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Transactions at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman owned 8,546 shares in the company, valued at $31,696,515.78. This represents a 76.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Richard Craig Smith sold 3,000 shares of the firm's 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 value of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,250 shares of company stock valued at $116,321,123 over the last quarter. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BMO Capital Markets restated an "outperform" rating and issued a $4,100.00 target price (up previously from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. UBS Group lifted their price objective on AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Truist Financial set a $3,995.00 price objective on AutoZone in a research report on Friday, May 23rd. Finally, Mizuho upped their target price on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $4,148.90.

AutoZone Trading Down 0.4%

Shares of AutoZone stock traded down $16.65 during trading hours on Friday, reaching $4,216.31. The stock had a trading volume of 92,444 shares, compared to its average volume of 95,411. The firm has a 50 day simple moving average of $3,929.54 and a two-hundred day simple moving average of $3,744.98. The firm has a market capitalization of $70.76 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 2.22 and a beta of 0.41. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,248.14.

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.