Interval Partners LP Takes $64.32 Million Position in AutoZone, Inc. $AZO

Key Points

• Interval Partners LP made a new investment in AutoZone, acquiring 16,869 shares valued at approximately $64.3 million, marking about 1.3% of their portfolio.
• Insider trading activity noted significant sales, with K. Michelle Borninkhof and William C. Rhodes III selling shares valued at over $104 million combined, indicating a sharp decrease in their respective positions.
• Wall Street analysts have raised target prices for AutoZone, with recommendations reflecting an "outperform" rating and an average target price increase to approximately $4,148.90.

Interval Partners LP purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,869 shares of the company's stock, valued at approximately $64,318,000. AutoZone makes up 1.3% of Interval Partners LP's holdings, making the stock its 12th largest holding. Interval Partners LP owned 0.10% of AutoZone at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AZO. GAMMA Investing LLC boosted its holdings in shares of AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares in the last quarter. Nuveen LLC bought a new stake in shares of AutoZone in the 1st quarter valued at about $442,530,000. JPMorgan Chase & Co. boosted its holdings in shares of AutoZone by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after buying an additional 65,368 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of AutoZone in the 4th quarter valued at about $95,480,000. Finally, Deutsche Bank AG boosted its holdings in shares of AutoZone by 14.6% in the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock valued at $655,840,000 after buying an additional 26,036 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of AutoZone stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman owned 8,546 shares of the company's stock, valued at $31,696,515.78. The trade was a 76.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 transaction of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,250 shares of company stock valued at $116,321,123. 2.10% of the stock is owned by company insiders.

AutoZone Stock Performance

AutoZone stock traded down $16.65 during trading on Friday, reaching $4,216.31. The company had a trading volume of 92,444 shares, compared to its average volume of 95,352. The firm's 50-day simple moving average is $3,929.54 and its 200 day simple moving average is $3,747.33. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,248.14. The firm has a market capitalization of $70.75 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 2.22 and a beta of 0.41.

Wall Street Analyst Weigh In

AZO has been the topic of a number of recent analyst reports. Roth Capital set a $4,135.00 price target on shares of AutoZone and gave the company a "buy" rating in a report on Monday, June 2nd. Truist Financial set a $3,995.00 price target on shares of AutoZone in a research report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Wall Street Zen raised shares of AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, AutoZone currently has an average rating of "Buy" and a consensus price target of $4,148.90.

About AutoZone

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.