AutoZone, Inc. $AZO Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS AM sold 7,137 shares of AutoZone, reducing its position by 5.0% to 135,603 shares, valued at approximately $517 million.
• Several institutional investors, including Woodline Partners and Zimmer Partners, have recently adjusted their stakes in AutoZone, highlighting increased interest in the company.
• AutoZone's stock has seen price targets raised by multiple analysts, with a consensus target of $4,148.90, indicating strong market optimism.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,603 shares of the company's stock after selling 7,137 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.81% of AutoZone worth $517,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AZO. GAMMA Investing LLC lifted its holdings in shares of AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after purchasing an additional 770,005 shares during the last quarter. Nuveen LLC purchased a new stake in shares of AutoZone during the 1st quarter valued at $442,530,000. JPMorgan Chase & Co. lifted its holdings in shares of AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after purchasing an additional 65,368 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of AutoZone during the 4th quarter valued at $95,480,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of AutoZone by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 106,888 shares of the company's stock valued at $407,540,000 after purchasing an additional 24,933 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Trading Down 0.6%

NYSE AZO traded down $27.17 on Friday, hitting $4,327.37. 100,875 shares of the company's stock traded hands, compared to its average volume of 99,795. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,388.11. The firm's 50-day moving average price is $3,989.84 and its two-hundred day moving average price is $3,773.46. The firm has a market capitalization of $72.62 billion, a PE ratio of 29.29, a P/E/G ratio of 2.30 and a beta of 0.41.

Insider Buying and Selling at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction on Friday, June 20th. The shares were 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 owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

AZO has been the topic of several research analyst reports. DA Davidson boosted their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. boosted their target price on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Barclays boosted their target price on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research report on Thursday. Bank of America raised shares of AutoZone from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target 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.