Intech Investment Management LLC Sells 1,076 Shares of AutoZone, Inc. $AZO

Key Points

• Intech Investment Management LLC reduced its stake in AutoZone, Inc. by 21.0%, now holding 4,038 shares valued at approximately $15.40 million.
• In the first quarter, other institutional investors made notable adjustments, with some increasing their positions, and 92.74% of AutoZone's stock is now owned by institutional investors and hedge funds.
• Equity analysts have revised their price targets for AutoZone, with a consensus price target of approximately $4,148.90 and a majority rating of "Buy" or "Strong Buy".

Intech Investment Management LLC decreased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,038 shares of the company's stock after selling 1,076 shares during the quarter. Intech Investment Management LLC's holdings in AutoZone were worth $15,396,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AutoZone by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company's stock worth $6,709,967,000 after purchasing an additional 13,643 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock worth $3,570,296,000 after purchasing an additional 65,368 shares during the last quarter. GAMMA Investing LLC raised its holdings in AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after purchasing an additional 770,005 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in AutoZone by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company's stock worth $1,331,870,000 after purchasing an additional 24,701 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in AutoZone by 4.3% during the 1st quarter. Alliancebernstein L.P. now owns 158,487 shares of the company's stock worth $604,276,000 after purchasing an additional 6,549 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Analyst Ratings Changes

AZO has been the subject of several analyst reports. UBS Group raised their price target on shares of AutoZone from $4,260.00 to $4,925.00 and gave the stock a "buy" rating in a report on Thursday. Raymond James Financial reaffirmed a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. Guggenheim raised their price objective on shares of AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. DA Davidson raised their price objective on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. 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 currently has an average rating of "Buy" and a consensus price target of $4,229.38.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of AutoZone 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 transaction, the vice president directly owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

AutoZone Trading Down 0.6%

NYSE AZO traded down $27.17 during mid-day trading on Friday, hitting $4,327.37. The company's stock had a trading volume of 100,875 shares, compared to its average volume of 99,795. The company's 50 day simple moving average is $3,989.84 and its 200 day simple moving average is $3,773.46. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,388.11. The firm has a market capitalization of $72.61 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 2.30 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.