AutoZone, Inc. $AZO Shares Sold by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC reduced its stake in AutoZone by 0.7%, owning approximately $977.64 million in shares, making it the firm's 4th largest holding.
• Several institutional investors, including Blue Trust Inc. and Banco Santander S.A., raised their positions in AutoZone, indicating strong interest in the stock.
• Insider transactions showed significant sales, with Chairman William C. Rhodes III selling 27,500 shares valued at over $101 million, reflecting a 76% decrease in ownership.

First Manhattan CO. LLC. trimmed its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,411 shares of the company's stock after selling 1,913 shares during the quarter. AutoZone comprises approximately 2.9% of First Manhattan CO. LLC.'s portfolio, making the stock its 4th largest holding. First Manhattan CO. LLC. owned approximately 1.53% of AutoZone worth $977,639,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Forum Financial Management LP lifted its stake in AutoZone by 2.2% in the 4th quarter. Forum Financial Management LP now owns 138 shares of the company's stock worth $443,000 after purchasing an additional 3 shares in the last quarter. Focus Financial Network Inc. raised its position in shares of AutoZone by 2.9% during the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after buying an additional 3 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of AutoZone by 2.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock valued at $538,000 after buying an additional 3 shares during the period. Rappaport Reiches Capital Management LLC raised its position in shares of AutoZone by 4.8% during the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after buying an additional 3 shares during the period. Finally, Blue Trust Inc. raised its position in shares of AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after buying an additional 3 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company set a $4,200.00 price target on shares of AutoZone and gave the company an "overweight" rating in a research report on Monday, May 19th. Citigroup lifted their price target 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. Roth Capital set a $4,135.00 price target on shares of AutoZone and gave the company a "buy" rating in a research report on Monday, June 2nd. Bank of America raised shares of AutoZone from a "neutral" rating to a "buy" rating and lifted their price target for the company from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $4,000.00 price target (up previously from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Three 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $4,148.90.

AutoZone Stock Down 0.4%

NYSE AZO traded down $16.65 on Friday, reaching $4,216.31. The stock had a trading volume of 92,444 shares, compared to its average volume of 95,411. The firm has a market capitalization of $70.75 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 2.23 and a beta of 0.41. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,248.14. The stock has a fifty day moving average price of $3,929.54 and a two-hundred day moving average price of $3,742.59.

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 that occurred on 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 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the transaction, the senior vice president owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,250 shares of company stock valued at $116,321,123 over the last quarter. 2.10% of the stock is owned by company insiders.

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.