Corient Private Wealth LP Grows Stock Holdings in AutoZone, Inc. $AZO

Corient Private Wealth LP raised its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,599 shares of the company's stock after acquiring an additional 1,423 shares during the period. Corient Private Wealth LP owned 0.07% of AutoZone worth $37,071,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Turning Point Benefit Group Inc. acquired a new position in AutoZone in the third quarter valued at $25,000. Transamerica Financial Advisors LLC increased its stake in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock valued at $28,000 after acquiring an additional 4 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of AutoZone during the 2nd quarter valued at about $29,000. MCF Advisors LLC lifted its holdings in shares of AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock worth $31,000 after acquiring an additional 3 shares during the period. Finally, Bard Associates Inc. purchased a new position in shares of AutoZone during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AZO shares. Evercore reaffirmed an "outperform" rating on shares of AutoZone in a research report on Tuesday, May 26th. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 27th. Guggenheim dropped their price objective on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. Truist Financial set a $3,700.00 target price on AutoZone in a report on Wednesday, May 27th. Finally, Jefferies Financial Group lowered their price target on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $3,957.38.

Insiders Place Their Bets

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the sale, the vice president owned 441 shares of the company's stock, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

AutoZone Price Performance

Shares of NYSE AZO opened at $2,876.76 on Monday. AutoZone, Inc. has a 1-year low of $2,865.13 and a 1-year high of $4,363.29. The business has a 50-day moving average of $3,010.86 and a 200-day moving average of $3,247.22. The company has a market capitalization of $46.98 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.44 and a beta of 0.34.

AutoZone announced that its board has authorized a share buyback plan on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

AutoZone Profile

AutoZone, Inc is a retailer and distributor of automotive replacement parts, accessories, and maintenance products. The company serves do-it-yourself customers, professional service technicians, and commercial repair businesses through its stores, distribution network, and online platform.

Its product offerings include replacement parts such as batteries, brakes, engine components, and ignition products, along with tools, fluids, filters, and other automotive accessories. AutoZone also provides services such as parts lookup, diagnostic assistance, battery testing and charging, and loaner tools for eligible repairs.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional locations in Mexico and Brazil.

Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.