Coatue Management LLC acquired a new position in AutoZone, Inc. (NYSE:AZO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 267 shares of the company’s stock, valued at approximately $301,000.
Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in AutoZone by 104.9% during the second quarter. Nordea Investment Management AB now owns 1,069,736 shares of the company’s stock worth $1,195,290,000 after buying an additional 547,747 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in AutoZone during the first quarter worth about $4,837,000. Assenagon Asset Management S.A. boosted its holdings in AutoZone by 1,719.4% during the second quarter. Assenagon Asset Management S.A. now owns 91,915 shares of the company’s stock worth $103,691,000 after buying an additional 86,863 shares during the last quarter. Fiera Capital Corp boosted its holdings in AutoZone by 8.3% during the first quarter. Fiera Capital Corp now owns 655,807 shares of the company’s stock worth $554,809,000 after buying an additional 50,079 shares during the last quarter. Finally, Ardevora Asset Management LLP bought a new position in AutoZone during the second quarter worth about $45,556,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.
In related news, VP Philip B. Daniele sold 176 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $1,100.21, for a total transaction of $193,636.96. Following the transaction, the vice president now owns 247 shares in the company, valued at approximately $271,751.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by insiders.
Several research firms have recently weighed in on AZO. Wedbush reiterated an “outperform” rating and set a $1,300.00 price objective on shares of AutoZone in a report on Tuesday, June 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $1,250.00 price objective (up previously from $1,119.00) on shares of AutoZone in a report on Wednesday, May 27th. Cfra reiterated a “strong-buy” rating and set a $1,275.00 price objective (up previously from $1,250.00) on shares of AutoZone in a report on Tuesday, May 26th. Nomura lifted their price objective on AutoZone from $1,210.00 to $1,290.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Nomura Instinet reiterated a “buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. AutoZone presently has a consensus rating of “Buy” and an average target price of $1,232.88.
Shares of NYSE:AZO traded down $8.91 during trading on Friday, hitting $1,206.79. 166,200 shares of the company were exchanged, compared to its average volume of 166,143. AutoZone, Inc. has a fifty-two week low of $684.91 and a fifty-two week high of $1,274.41. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.83 and a beta of 0.92. The firm has a fifty day moving average price of $1,187.59 and a two-hundred day moving average price of $1,072.70.
AutoZone Company Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.
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