Gotham Asset Management LLC Cuts Position in AutoZone, Inc. $AZO

Key Points

• Gotham Asset Management LLC reduced its stake in AutoZone by 15.2% in the first quarter, now holding 3,164 shares worth approximately $12.06 million.
• Other hedge funds have varied activities with AutoZone, including Banco Santander S.A. boosting its holdings by 98.3%.
• Analysts have set AutoZone's share price targets with a range reaching as high as $4,800, reflecting an overall consensus rating of "Buy."

Gotham Asset Management LLC cut its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,164 shares of the company's stock after selling 569 shares during the period. Gotham Asset Management LLC's holdings in AutoZone were worth $12,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AZO. AlphaCore Capital LLC bought a new position in shares of AutoZone in the 1st quarter worth about $27,000. Saudi Central Bank acquired a new stake in shares of AutoZone in the 1st quarter valued at about $27,000. Financial Network Wealth Advisors LLC grew its stake in shares of AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock valued at $38,000 after buying an additional 4 shares during the period. Cornerstone Planning Group LLC acquired a new stake in shares of AutoZone in the 1st quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at about $45,000. 92.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AZO shares. Truist Financial set a $3,995.00 price target on AutoZone in a research note on Friday, May 23rd. Roth Capital set a $4,135.00 price target on AutoZone and gave the company a "buy" rating in a research note on Monday, June 2nd. DA Davidson lifted their price target on AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a research note on Friday, May 23rd. Finally, Morgan Stanley reissued an "overweight" rating and set a $4,000.00 target price (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 issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $4,229.38.

AutoZone Stock Performance

NYSE:AZO traded up $89.18 during trading hours on Thursday, reaching $4,342.08. The stock had a trading volume of 113,202 shares, compared to its average volume of 128,295. The stock has a 50 day simple moving average of $3,963.00 and a 200 day simple moving average of $3,760.65. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,388.11. The stock has a market cap of $72.86 billion, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 2.26 and a beta of 0.41.

Insiders Place Their Bets

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

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.