Harbor Investment Advisory LLC Buys 128 Shares of AutoZone, Inc. $AZO

Key Points

• Harbor Investment Advisory LLC increased its stake in AutoZone, Inc. by 209.8% in Q2, acquiring an additional 128 shares, bringing their total holdings to 189 shares valued at $702,000.
• Analysts have raised their price targets for AutoZone, with Guggenheim increasing its target from $3,850 to $4,100 and Bank of America lifting theirs from $3,900 to $4,800, reflecting a consensus rating of Buy.
• Insider selling activity includes SVP K. Michelle Borninkhof selling 750 shares for approximately $2.7 million, indicating a 64.88% decrease in her position, along with VP Richard Craig Smith selling 3,000 shares valued at about $11.6 million.

Harbor Investment Advisory LLC increased its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 209.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189 shares of the company's stock after acquiring an additional 128 shares during the quarter. Harbor Investment Advisory LLC's holdings in AutoZone were worth $702,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of AutoZone by 3.5% in the 1st 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 grew its position in AutoZone by 10.1% in the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock valued at $11,267,000 after purchasing an additional 271 shares during the period. Kirr Marbach & Co. LLC IN grew its position in AutoZone by 0.9% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock valued at $29,591,000 after purchasing an additional 68 shares during the period. Banco Santander S.A. grew its position in AutoZone by 98.3% in the 1st quarter. Banco Santander S.A. now owns 829 shares of the company's stock valued at $3,161,000 after purchasing an additional 411 shares during the period. Finally, Alpine Bank Wealth Management acquired a new stake in AutoZone in the 1st quarter valued at $545,000. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AZO. Guggenheim lifted their price target on shares of AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. 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. Truist Financial set a $3,995.00 price target on shares of AutoZone in a research report on Friday, May 23rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $4,100.00 price objective (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Finally, Roth Capital set a $4,135.00 price objective on shares of AutoZone and gave the stock a "buy" rating in a report on Monday, June 2nd. Three investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $4,229.38.

Insiders Place Their Bets

In other news, SVP K. Michelle Borninkhof sold 750 shares of AutoZone 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 sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction 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 in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

AutoZone Price Performance

AZO opened at $4,327.37 on Friday. The company has a market capitalization of $72.62 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 2.30 and a beta of 0.41. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,388.11. The firm's fifty day moving average price is $3,989.84 and its two-hundred day moving average price is $3,776.14.

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.

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