Focus Partners Advisor Solutions LLC Trims Holdings in AutoZone, Inc. $AZO

Key Points

• Focus Partners Advisor Solutions LLC has reduced its stake in AutoZone, Inc. by 44.4%, owning 189 shares worth $721,000 after selling 151 shares in the first quarter.
• Analysts have raised their price targets for AutoZone, with Morgan Stanley setting a target of $4,000 and DA Davidson increasing theirs to $4,850, indicating a generally positive outlook for the stock.
• Insider trading activity revealed that the Senior Vice President and Chairman of AutoZone significantly reduced their holdings, selling shares worth approximately $116 million in total over the last 90 days.

Focus Partners Advisor Solutions LLC lowered its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 44.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189 shares of the company's stock after selling 151 shares during the period. Focus Partners Advisor Solutions LLC's holdings in AutoZone were worth $721,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Flputnam Investment Management Co. boosted its holdings in shares of AutoZone by 3.2% during the 1st quarter. Flputnam Investment Management Co. now owns 96 shares of the company's stock valued at $366,000 after buying an additional 3 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of AutoZone in the 1st quarter worth about $1,639,000. Quarry LP raised its position in shares of AutoZone by 266.7% in the 1st quarter. Quarry LP now owns 165 shares of the company's stock worth $629,000 after purchasing an additional 120 shares during the last quarter. Saudi Central Bank purchased a new position in shares of AutoZone in the 1st quarter worth about $27,000. Finally, Night Squared LP purchased a new position in shares of AutoZone in the 1st quarter worth about $2,860,000. Institutional investors own 92.74% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AZO shares. The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a research report on Friday, May 23rd. DA Davidson lifted their price target on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Truist Financial set a $3,995.00 price target on AutoZone in a research report on Friday, May 23rd. Wells Fargo & Company set a $4,200.00 target price on AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Mizuho boosted their target price on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, AutoZone has an average rating of "Buy" and an average price target of $4,148.90.

Insider Activity

In other news, VP Richard Craig Smith sold 3,000 shares of the company's 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 owned 2,925 shares of the company's stock, valued at $11,337,007.50. This represents a 50.63% decrease in their position. The transaction 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 company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president directly owned 406 shares of the company's stock, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,250 shares of company stock valued at $116,321,123 in the last quarter. 2.10% of the stock is currently owned by insiders.

AutoZone Trading Down 0.4%

NYSE:AZO traded down $16.65 during mid-day trading on Friday, reaching $4,216.31. The company's stock had a trading volume of 92,444 shares, compared to its average volume of 95,352. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,248.14. The firm's fifty day moving average price is $3,929.54 and its two-hundred day moving average price is $3,744.98. The stock has a market cap of $70.75 billion, a P/E ratio of 28.54, a PEG ratio of 2.22 and a beta of 0.41.

AutoZone 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.