Mogy Joel R Investment Counsel Inc. Has $22.75 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Mogy Joel R Investment Counsel Inc. increased its holdings in AutoZone, Inc. by 1.6% during the 2nd quarter, now owning 6,129 shares valued at approximately $22.75 million.
• AutoZone has received upgrades from multiple research firms, with target prices now ranging from $4,135.00 to $4,850.00 and an average target price of $4,339.33.
• Insider transactions reveal significant reductions in ownership, including a 50.63% decrease from VP Richard Craig Smith after selling 3,000 shares for about $11.63 million.

Mogy Joel R Investment Counsel Inc. raised its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,129 shares of the company's stock after purchasing an additional 94 shares during the quarter. AutoZone accounts for 1.3% of Mogy Joel R Investment Counsel Inc.'s portfolio, making the stock its 23rd largest position. Mogy Joel R Investment Counsel Inc.'s holdings in AutoZone were worth $22,752,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AZO. AlphaCore Capital LLC bought a new stake in shares of AutoZone in the 1st quarter worth approximately $27,000. Saudi Central Bank bought a new stake in shares of AutoZone in the 1st quarter worth approximately $27,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock worth $38,000 after purchasing an additional 4 shares during the last quarter. Cornerstone Planning Group LLC bought a new stake in shares of AutoZone in the 1st quarter worth approximately $44,000. Finally, Clearstead Trust LLC bought a new stake in shares of AutoZone in the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business'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 owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. 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. Cowen reissued a "buy" rating on shares of AutoZone in a research note on Thursday. Evercore ISI lifted their target price on AutoZone from $4,250.00 to $4,500.00 and gave the stock an "outperform" rating in a report on Thursday. Truist Financial lifted their price target on AutoZone from $4,038.00 to $4,504.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Finally, Wolfe Research began coverage on AutoZone in a report on Thursday. They set an "outperform" rating and a $4,741.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $4,449.18.

AutoZone Price Performance

AZO traded down $18.73 during trading on Monday, reaching $4,121.63. 81,529 shares of the stock traded hands, compared to its average volume of 129,167. The stock has a market cap of $69.17 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.29 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 $4,388.11. The stock's 50-day simple moving average is $4,034.29 and its two-hundred day simple moving average is $3,801.55.

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.