AutoZone, Inc. $AZO Stock Holdings Lowered by Raiffeisen Bank International AG

Raiffeisen Bank International AG lessened its position in AutoZone, Inc. (NYSE:AZO) by 88.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149 shares of the company’s stock after selling 1,114 shares during the period. Raiffeisen Bank International AG’s holdings in AutoZone were worth $470,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Turning Point Benefit Group Inc. acquired a new position in AutoZone during the 3rd quarter valued at about $25,000. Transamerica Financial Advisors LLC increased its stake in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of AutoZone in the second quarter valued at approximately $29,000. MCF Advisors LLC raised its holdings in shares of AutoZone by 50.0% during the fourth 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 last quarter. Finally, Bard Associates Inc. bought a new stake in shares of AutoZone during the fourth quarter valued at approximately $31,000. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZO has been the subject of several analyst reports. Evercore reissued an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. Jefferies Financial Group decreased 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. TD Cowen lowered their price target on AutoZone from $3,700.00 to $3,500.00 and set a “buy” rating on the stock in a report on Monday, August 31st. BMO Capital Markets decreased their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Finally, Morgan Stanley dropped their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. One investment 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,999.04.

Insider Buying and Selling

In other news, VP Dennis 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 value of $4,510,500.00. Following the transaction, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $2,981.99 on Monday. 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 capitalization of $48.70 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.49 and a beta of 0.34. The stock has a fifty day moving average of $3,036.29 and a 200-day moving average of $3,276.84.

AutoZone announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

AutoZone Company Profile

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.