AutoZone, Inc. $AZO Shares Sold by Ieq Capital LLC

Key Points

• Ieq Capital LLC significantly reduced its stake in AutoZone, Inc. by 63.7%, now holding only 488 shares valued at approximately $1.86 million.
• Wall Street analysts have set optimistic price targets for AutoZone, with Goldman Sachs at $3,811 and UBS Group raising its target to $4,260, reflecting a consensus "Buy" rating.
• Insider transactions revealed notable sales, including Chair William C. Rhodes III selling 27,500 shares worth over $101 million, leading to a significant decrease in his holdings.

Ieq Capital LLC lowered its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 63.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 488 shares of the company's stock after selling 855 shares during the quarter. Ieq Capital LLC's holdings in AutoZone were worth $1,861,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Blue Trust Inc. raised its stake in shares of AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after acquiring an additional 3 shares in the last quarter. Colonial Trust Co SC grew its position in AutoZone by 24.5% during the 4th quarter. Colonial Trust Co SC now owns 61 shares of the company's stock worth $197,000 after purchasing an additional 12 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its position in AutoZone by 10.1% during the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after purchasing an additional 271 shares during the last quarter. Kirr Marbach & Co. LLC IN grew its position in AutoZone by 0.9% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock worth $29,591,000 after purchasing an additional 68 shares during the last quarter. Finally, Banco Santander S.A. grew its position in AutoZone by 98.3% during the 1st quarter. Banco Santander S.A. now owns 829 shares of the company's stock worth $3,161,000 after purchasing an additional 411 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In other news, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 406 shares in the company, valued at $1,460,434.78. This trade represents a 64.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated 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 completion of the sale, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,250 shares of company stock valued at $116,321,123. 2.10% of the stock is owned by company insiders.

AutoZone Stock Up 1.0%

AutoZone stock traded up $42.64 during trading on Thursday, reaching $4,232.12. The stock had a trading volume of 79,691 shares, compared to its average volume of 129,120. AutoZone, Inc. has a 52-week low of $2,898.57 and a 52-week high of $4,238.19. The business has a 50 day moving average price of $3,903.12 and a 200 day moving average price of $3,731.55. The stock has a market cap of $71.02 billion, a PE ratio of 28.64, a P/E/G ratio of 2.21 and a beta of 0.41.

Analysts Set New Price Targets

Several analysts have recently commented on AZO shares. 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 report on Wednesday. Roth Capital set a $4,135.00 target price on shares of AutoZone and gave the company a "buy" rating in a research report on Monday, June 2nd. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a report on Friday, May 23rd. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, AutoZone presently has an average rating of "Buy" and an average target price of $4,148.90.

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.