Rafferty Asset Management LLC Has $4.97 Million Holdings in AutoZone, Inc. $AZO

Key Points

• Rafferty Asset Management LLC reduced its stake in AutoZone by 23.0%, holding 1,304 shares valued at approximately $4.97 million after selling 390 shares in the first quarter.
• Wall Street analysts have raised their target prices for AutoZone, with an average target now at $4,101.29 and many analysts rating the stock as a Buy or Strong Buy.
• Insider trading shows significant activity, with the Chairman selling 27,500 shares for over $101 million, representing a 76.29% decrease in his position.

Rafferty Asset Management LLC cut its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,304 shares of the company's stock after selling 390 shares during the period. Rafferty Asset Management LLC's holdings in AutoZone were worth $4,972,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after purchasing an additional 3 shares in the last quarter. Colonial Trust Co SC increased its position in shares of AutoZone by 24.5% during the 4th quarter. Colonial Trust Co SC now owns 61 shares of the company's stock worth $197,000 after purchasing an additional 12 shares in the last quarter. Comerica Bank lifted its position in shares of AutoZone by 5.4% during the fourth quarter. Comerica Bank now owns 4,262 shares of the company's stock worth $13,647,000 after purchasing an additional 217 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in AutoZone by 10.1% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock valued at $11,267,000 after acquiring an additional 271 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN boosted its position in shares of AutoZone by 0.9% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock worth $29,591,000 after purchasing an additional 68 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the transaction, the senior vice president directly owned 406 shares of the company's stock, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of 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 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 currently owned by insiders.

AutoZone Price Performance

NYSE AZO traded down $24.54 during trading on Tuesday, reaching $4,173.99. 59,411 shares of the company's stock traded hands, compared to its average volume of 129,411. The company's 50 day simple moving average is $3,877.21 and its two-hundred day simple moving average is $3,725.27. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,229.68. The firm has a market cap of $70.04 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 2.51 and a beta of 0.41.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Evercore ISI increased their price objective on shares of AutoZone from $4,060.00 to $4,250.00 and gave the stock an "outperform" rating in a research report on Monday, August 18th. Truist Financial set a $3,995.00 price target on shares of AutoZone in a research note on Friday, May 23rd. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. boosted their target price on shares of AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Finally, Mizuho upped their price target on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Three equities research 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. According to MarketBeat.com, AutoZone presently has a consensus rating of "Buy" and an average target price of $4,101.29.

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.