UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 11,577.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,066 shares of the company's stock after buying an additional 139,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.86% of AutoZone worth $450,838,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Turning Point Benefit Group Inc. bought a new stake in AutoZone in the third quarter valued at $25,000. Transamerica Financial Advisors LLC boosted its position in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock worth $28,000 after purchasing an additional 4 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of AutoZone in the 2nd quarter valued at about $29,000. MCF Advisors LLC grew its stake in shares of AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after buying an additional 3 shares during the period. Finally, Bard Associates Inc. bought a new stake in AutoZone in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 92.74% of the company's stock.
Wall Street Analyst Weigh In
AZO has been the topic of several research reports. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a report on Wednesday, May 27th. Evercore reiterated an "outperform" rating on shares of AutoZone in a report on Tuesday, May 26th. Weiss Ratings lowered shares of AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 27th. Finally, Guggenheim cut their price target on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $4,029.43.
Read Our Latest Report on AZO
AutoZone Price Performance
Shares of AZO stock opened at $2,967.55 on Monday. The firm has a 50-day moving average of $3,045.07 and a 200-day moving average of $3,305.33. AutoZone, Inc. has a one year low of $2,902.20 and a one year high of $4,388.11. The company has a market cap of $48.46 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.50 and a beta of 0.33.
AutoZone declared that its board has authorized a stock buyback program on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its shares are undervalued.
Insider Activity at AutoZone
In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of AutoZone stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president owned 441 shares of the company's stock, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.
AutoZone Profile
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Free Report)
AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.
AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.
Further Reading
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