AutoZone, Inc. $AZO Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB has reduced its stake in AutoZone by 9.3%, lowering their holdings to 665 shares valued at approximately $2.47 million.
• In recent insider trading, SVP K. Michelle Borninkhof sold 750 shares for around $2.7 million, while VP Richard Craig Smith sold 3,000 shares for approximately $11.63 million.
• Analysts have increased their price targets for AutoZone, with Barclays setting a new target of $4,610, indicating a strong positive outlook for the company's stock.

E. Ohman J or Asset Management AB reduced its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 665 shares of the company's stock after selling 68 shares during the quarter. E. Ohman J or Asset Management AB's holdings in AutoZone were worth $2,469,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. AlphaCore Capital LLC purchased a new stake in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank purchased a new stake in AutoZone during the 1st quarter worth approximately $27,000. Financial Network Wealth Advisors LLC increased its stake in AutoZone by 66.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock worth $38,000 after buying an additional 4 shares during the period. Cornerstone Planning Group LLC purchased a new stake in AutoZone during the 1st quarter worth approximately $44,000. Finally, Clearstead Trust LLC purchased a new stake in AutoZone during the 1st quarter worth approximately $46,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AZO shares. Barclays upped their target price on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Morgan Stanley reissued an "overweight" rating and issued a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. Citigroup increased 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 report on Wednesday, September 3rd. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $4,100.00 price objective (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $4,281.76.

AutoZone Stock Performance

Shares of AutoZone stock opened at $4,223.32 on Tuesday. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,388.11. The company has a market capitalization of $70.87 billion, a P/E ratio of 28.58, a PEG ratio of 2.28 and a beta of 0.41. The company's fifty day moving average is $3,998.54 and its two-hundred day moving average is $3,783.60.

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.

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