Jones Financial Companies Lllp Purchases 195 Shares of AutoZone, Inc. $AZO

Key Points

• Jones Financial Companies Lllp increased its stake in AutoZone by 43.6% in Q1, holding a total of 642 shares valued at approximately $2.4 million.
• Multiple hedge funds have adjusted their positions in AutoZone, with significant increases reported by Shellback Capital LP, which raised its holdings by an astonishing 645.7% during the same quarter.
• Analysts have upgraded AutoZone’s stock price targets, with Citigroup raising its target from $3,900 to $4,900 while maintaining a "buy" rating.

Jones Financial Companies Lllp lifted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 43.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 642 shares of the company's stock after acquiring an additional 195 shares during the quarter. Jones Financial Companies Lllp's holdings in AutoZone were worth $2,448,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Teewinot Capital Advisers L.L.C. purchased a new position in AutoZone in the 1st quarter worth approximately $2,238,000. UniSuper Management Pty Ltd lifted its holdings in AutoZone by 3.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 1,270 shares of the company's stock worth $4,842,000 after purchasing an additional 41 shares in the last quarter. Shellback Capital LP raised its holdings in shares of AutoZone by 645.7% during the 1st quarter. Shellback Capital LP now owns 7,457 shares of the company's stock worth $28,432,000 after acquiring an additional 6,457 shares in the last quarter. Parallax Volatility Advisers L.P. raised its holdings in shares of AutoZone by 101.0% during the 1st quarter. Parallax Volatility Advisers L.P. now owns 220 shares of the company's stock worth $839,000 after acquiring an additional 22,920 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of AutoZone by 5.2% during the 1st quarter. NewEdge Advisors LLC now owns 1,264 shares of the company's stock valued at $4,821,000 after purchasing an additional 62 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Price Performance

Shares of AZO stock opened at $4,348.45 on Friday. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,388.11. The stock's 50-day moving average is $3,976.63 and its 200 day moving average is $3,767.21. The company has a market cap of $72.97 billion, a P/E ratio of 29.43, a PEG ratio of 2.24 and a beta of 0.41.

Insider Buying and Selling

In other news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 406 shares in the company, valued at approximately $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

AZO has been the topic of several analyst reports. Citigroup boosted their target price on AutoZone from $3,900.00 to $4,900.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. BMO Capital Markets reiterated an "outperform" rating and issued a $4,100.00 target price (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Roth Capital set a $4,135.00 price target on AutoZone and gave the stock a "buy" rating in a research report on Monday, June 2nd. Wells Fargo & Company set a $4,200.00 price target on AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Truist Financial set a $3,995.00 price target on AutoZone in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $4,229.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.