750 Shares in AutoZone, Inc. $AZO Acquired by Night Squared LP

Key Points

• Night Squared LP has acquired 750 shares of AutoZone, Inc. worth approximately $2.86 million, making AutoZone 1.7% of its portfolio and its 27th largest holding.
• Several institutional investors, including Blue Trust Inc. and Colonial Trust Co SC, have increased their stakes in AutoZone, reflecting strong interest in the stock.
• Analysts have raised price targets for AutoZone, with several firms giving a "buy" rating and an average target price of approximately $4,101.29.

Night Squared LP bought a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 750 shares of the company's stock, valued at approximately $2,860,000. AutoZone makes up approximately 1.7% of Night Squared LP's investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds have also made changes to their positions in AZO. Brighton Jones LLC increased its position in shares of AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after purchasing an additional 14 shares in the last quarter. Comerica Bank increased its position in AutoZone by 5.4% in the 4th quarter. Comerica Bank now owns 4,262 shares of the company's stock valued at $13,647,000 after acquiring an additional 217 shares in the last quarter. Keel Point LLC increased its position in AutoZone by 4.4% in the 4th quarter. Keel Point LLC now owns 95 shares of the company's stock valued at $304,000 after acquiring an additional 4 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in AutoZone by 750.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 17 shares of the company's stock valued at $54,000 after acquiring an additional 15 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in AutoZone in the 4th quarter valued at about $6,373,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Transactions at AutoZone

In related news, Chairman William C. Rhodes III sold 27,500 shares of AutoZone stock in a transaction that occurred 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 transaction, the chairman owned 8,546 shares of the company's stock, valued at $31,696,515.78. This trade represents a 76.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 31,250 shares of company stock worth $116,321,123 in the last quarter. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AZO has been the subject of several research reports. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an "overweight" rating in a research report on Monday, May 19th. Evercore ISI raised their price objective on shares of AutoZone from $4,060.00 to $4,250.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Morgan Stanley restated an "overweight" rating and issued a $4,000.00 price objective (up previously from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. UBS Group raised their price objective on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $4,101.29.

AutoZone Trading Up 0.2%

Shares of NYSE:AZO traded up $8.51 during trading on Monday, hitting $4,205.60. 89,713 shares of the company's stock were exchanged, compared to its average volume of 104,344. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,229.68. The firm has a 50-day moving average price of $3,877.21 and a two-hundred day moving average price of $3,725.27. The firm has a market cap of $70.57 billion, a P/E ratio of 28.46, a PEG ratio of 2.51 and a beta of 0.41.

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.