Vident Advisory LLC Sells 424 Shares of AutoZone, Inc. $AZO

Key Points

• Vident Advisory LLC has reduced its stake in AutoZone, Inc. by 30.8%, selling 424 shares and now holding a total of 954 shares valued at $3,641,000.
• Other hedge funds have significantly increased their positions in AutoZone, with GAMMA Investing LLC raising its stake by 435,031.1% during the same quarter.
• AutoZone currently holds a market capitalization of $70.57 billion and its stock has a one-year range of $2,898.57 to $4,229.68, reflecting a strong interest from institutional investors, who own 92.74% of the company's shares.

Vident Advisory LLC reduced its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 30.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 954 shares of the company's stock after selling 424 shares during the period. Vident Advisory LLC's holdings in AutoZone were worth $3,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after acquiring an additional 14 shares during the last quarter. Comerica Bank raised its holdings in shares of AutoZone by 5.4% in the 4th quarter. Comerica Bank now owns 4,262 shares of the company's stock worth $13,647,000 after acquiring an additional 217 shares during the last quarter. Keel Point LLC raised its holdings in shares of AutoZone by 4.4% in the 4th quarter. Keel Point LLC now owns 95 shares of the company's stock worth $304,000 after acquiring an additional 4 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of AutoZone in the 4th quarter worth about $6,373,000. Finally, Arrowroot Family Office LLC acquired a new stake in shares of AutoZone in the 4th quarter worth about $202,000. Institutional investors own 92.74% of the company's stock.

AutoZone Stock Up 0.1%

AZO traded up $4.24 on Wednesday, hitting $4,184.08. The company's stock had a trading volume of 91,058 shares, compared to its average volume of 129,409. The company's 50 day simple moving average is $3,889.15 and its 200-day simple moving average is $3,728.41. The firm has a market cap of $70.21 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,229.68.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of analyst reports. Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a research note on Friday, May 23rd. Mizuho increased their price objective on shares of AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Citigroup increased their price objective on shares of AutoZone from $3,900.00 to $4,900.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $4,148.90.

Insider Buying and Selling at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction on Friday, June 20th. The shares were 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. This trade represents a 64.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Craig Smith sold 3,000 shares of the firm's 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 of the company's stock, valued at approximately $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. Insiders sold a total of 31,250 shares of company stock valued at $116,321,123 in the last three months. Company insiders own 2.10% of the company's stock.

About AutoZone

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.