Mn Services Vermogensbeheer B.V. Has $23.39 Million Position in AutoZone, Inc. $AZO

Key Points

• Mn Services Vermogensbeheer B.V. has reduced its stake in AutoZone, Inc. by 1.6%, selling 100 shares to hold a total of 6,300 shares valued at approximately $23.39 million.
• Recent reports from various analysts indicate positive projections for AutoZone, with price targets ranging from $4,100 to $4,900 and a consensus rating of "Buy".
• Insider trading activity noted that VP Richard Craig Smith sold 3,000 shares, valued at roughly $11.63 million, which represents a 50.63% decrease in his holdings.

Mn Services Vermogensbeheer B.V. cut its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,300 shares of the company's stock after selling 100 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in AutoZone were worth $23,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its stake in shares of AutoZone by 3.5% in the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after acquiring an additional 3 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of AutoZone by 10.1% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after acquiring an additional 271 shares during the last quarter. Kirr Marbach & Co. LLC IN increased its stake in shares of AutoZone by 0.9% in the first quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock worth $29,591,000 after acquiring an additional 68 shares during the last quarter. Banco Santander S.A. increased its position in AutoZone by 98.3% during the first quarter. Banco Santander S.A. now owns 829 shares of the company's stock worth $3,161,000 after buying an additional 411 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in AutoZone during the first quarter worth $545,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of AutoZone from $4,200.00 to $4,850.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Truist Financial increased their target price on shares of AutoZone from $4,038.00 to $4,504.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Guggenheim increased their target price 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. Morgan Stanley reissued an "overweight" rating and set a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Finally, Evercore ISI increased their target price on shares of AutoZone from $4,250.00 to $4,500.00 and gave the stock an "outperform" rating in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, AutoZone presently has a consensus rating of "Buy" and a consensus target price of $4,449.18.

AutoZone Stock Down 0.6%

AZO stock traded down $25.29 during mid-day trading on Monday, reaching $4,115.07. 192,617 shares of the stock traded hands, compared to its average volume of 111,626. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,388.11. The business has a 50-day moving average of $4,041.27 and a two-hundred day moving average of $3,805.01. The firm has a market capitalization of $69.05 billion, a PE ratio of 27.85, a P/E/G ratio of 2.29 and a beta of 0.41.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by corporate insiders.

AutoZone Company 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.