Diversified Trust Co Decreases Stake in AutoZone, Inc. $AZO

Key Points

• Diversified Trust Co has reduced its holdings in AutoZone, Inc. by 24.2% in Q2, owning 3,089 shares worth approximately $11.47 million as of the latest SEC filing.
• A number of analysts have recently increased their price targets for AutoZone, with UBS Group raising it significantly to $4,925.00 and a consensus target of $4,399.18 among various analysts.
• Insider trading activity was noted, including VP Richard Craig Smith selling 3,000 shares valued at about $11.63 million, which reduced his ownership in the company by over 50%.

Diversified Trust Co decreased its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 24.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,089 shares of the company's stock after selling 988 shares during the quarter. Diversified Trust Co's holdings in AutoZone were worth $11,467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Blue Trust Inc. raised its holdings in AutoZone by 3.5% in the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after acquiring an additional 3 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its holdings in AutoZone by 10.1% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock valued at $11,267,000 after acquiring an additional 271 shares in the last quarter. Kirr Marbach & Co. LLC IN raised its holdings in AutoZone by 0.9% in the first quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock valued at $29,591,000 after acquiring an additional 68 shares in the last quarter. Banco Santander S.A. raised its holdings in AutoZone by 98.3% in the first quarter. Banco Santander S.A. now owns 829 shares of the company's stock valued at $3,161,000 after acquiring an additional 411 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in AutoZone in the first quarter valued at approximately $545,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Stock Performance

AZO traded down $0.11 during trading on Friday, hitting $4,132.72. The stock had a trading volume of 184,590 shares, compared to its average volume of 108,356. The firm has a market capitalization of $69.35 billion, a P/E ratio of 27.97, a PEG ratio of 2.18 and a beta of 0.41. The company's 50-day moving average price is $4,034.29 and its 200 day moving average price is $3,800.20. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,388.11.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. DA Davidson raised their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Barclays raised their target price on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $4,900.00 target price (up previously from $4,200.00) on shares of AutoZone in a report on Tuesday. Mizuho raised their target price on shares of AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Finally, Morgan Stanley restated an "overweight" rating and set a $4,000.00 price objective (up previously from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $4,399.18.

Insider Transactions at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company's stock.

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.