United Services Automobile Association Invests $1.48 Million in AutoZone, Inc. $AZO

Key Points

• United Services Automobile Association has acquired a new stake in AutoZone, Inc., purchasing 393 shares valued at approximately $1,482,000 in the first quarter.
• Analysts have raised their ratings for AutoZone, with Bank of America increasing its price target from $3,900 to $4,800, while multiple analysts issued "buy" ratings.
• A significant insider sale occurred when VP Richard Craig Smith sold 3,000 shares at an average price of $3,875.90, resulting in a 50.63% decrease in his ownership of the stock.

United Services Automobile Association purchased a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 393 shares of the company's stock, valued at approximately $1,482,000.

Other hedge funds also recently modified their holdings of the company. Forum Financial Management LP increased its holdings in shares of AutoZone by 2.2% during the 4th quarter. Forum Financial Management LP now owns 138 shares of the company's stock worth $443,000 after acquiring an additional 3 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of AutoZone by 2.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock worth $538,000 after acquiring an additional 3 shares during the last quarter. Focus Financial Network Inc. boosted its stake in AutoZone by 2.9% in the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after purchasing an additional 3 shares during the period. Blue Trust Inc. boosted its stake in AutoZone by 3.5% in 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 during the period. Finally, Rappaport Reiches Capital Management LLC boosted its stake in AutoZone by 4.8% in the 1st quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock valued at $252,000 after purchasing an additional 3 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Stock Down 0.6%

Shares of NYSE:AZO traded down $27.17 during trading on Friday, reaching $4,327.37. 100,875 shares of the company traded hands, compared to its average volume of 128,482. The company's 50 day moving average is $3,976.63 and its two-hundred day moving average is $3,767.21. The firm has a market capitalization of $72.61 billion, a PE ratio of 29.29, a PEG ratio of 2.24 and a beta of 0.41. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,388.11.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction 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 completion of the transaction, the vice president owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction on 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 transaction, the senior vice president directly owned 406 shares of the company's stock, valued at $1,460,434.78. This trade represents a 64.88% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Evercore ISI boosted their price target on AutoZone from $4,060.00 to $4,250.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Truist Financial set a $3,995.00 price target on AutoZone in a research note on Friday, May 23rd. UBS Group boosted their price target on AutoZone from $4,260.00 to $4,925.00 and gave the company a "buy" rating in a research note on Thursday. BMO Capital Markets restated an "outperform" rating and issued a $4,100.00 price target (up from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Barclays boosted their price target on AutoZone from $3,916.00 to $4,610.00 and gave the company an "overweight" rating in a research note on Thursday. Three research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $4,229.38.

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.