Westmount Partners LLC Acquires New Position in AutoZone, Inc. $AZO

Key Points

• Westmount Partners LLC has acquired a new stake in AutoZone, Inc., purchasing 69 shares valued at approximately $256,000 during the second quarter.
• Institutional investors and hedge funds currently own 92.74% of AutoZone's stock, indicating strong institutional interest in the company.
• Analyst ratings for AutoZone have been positive, with multiple upgrades leading to an average target price of $4,281.76 and a consensus rating of "Buy."

Westmount Partners LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 69 shares of the company's stock, valued at approximately $256,000.

Other large investors have also bought and sold shares of the company. Czech National Bank raised its holdings in AutoZone by 6.1% in the second quarter. Czech National Bank now owns 4,089 shares of the company's stock worth $15,179,000 after purchasing an additional 235 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in AutoZone by 7,358.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company's stock worth $902,929,000 after purchasing an additional 239,970 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in AutoZone by 4.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 114 shares of the company's stock worth $423,000 after purchasing an additional 5 shares during the period. NBC Securities Inc. raised its holdings in AutoZone by 0.9% in the second quarter. NBC Securities Inc. now owns 347 shares of the company's stock worth $1,288,000 after purchasing an additional 3 shares during the period. Finally, Parallel Advisors LLC raised its holdings in AutoZone by 13.0% in the second quarter. Parallel Advisors LLC now owns 235 shares of the company's stock worth $871,000 after purchasing an additional 27 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

AZO stock opened at $4,223.32 on Tuesday. The company has a 50 day simple moving average of $3,998.54 and a 200 day simple moving average of $3,783.60. The stock has a market cap of $70.88 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 2.28 and a beta of 0.41. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,388.11.

Insider Buying and Selling

In related news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction that occurred 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 directly owned 406 shares in the company, valued at $1,460,434.78. This represents a 64.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction that occurred 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 transaction, the vice president owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AZO has been the topic of several analyst reports. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and increased their target price for the stock from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. DA Davidson raised their price objective on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Barclays raised their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Mizuho raised their price objective 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. Finally, Truist Financial set a $3,995.00 price objective on shares of AutoZone in a report on Friday, May 23rd. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $4,281.76.

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.

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