Highland Capital Management LLC Sells 167 Shares of AutoZone, Inc. (NYSE:AZO)

Highland Capital Management LLC lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 14.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 970 shares of the company’s stock after selling 167 shares during the quarter. Highland Capital Management LLC’s holdings in AutoZone were worth $2,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. CWM LLC boosted its stake in AutoZone by 5.3% in the 4th quarter. CWM LLC now owns 317 shares of the company’s stock valued at $820,000 after buying an additional 16 shares in the last quarter. Duality Advisers LP bought a new position in shares of AutoZone during the fourth quarter valued at $504,000. GAMMA Investing LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at $271,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of AutoZone by 5.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 419 shares of the company’s stock worth $1,083,000 after purchasing an additional 22 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of AutoZone during the 4th quarter worth about $145,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,125.67 on Monday. The firm has a market cap of $53.40 billion, a PE ratio of 21.62, a P/E/G ratio of 1.58 and a beta of 0.71. The business’s 50 day simple moving average is $3,018.56 and its 200 day simple moving average is $2,969.39. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup decreased their price target on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Wolfe Research decreased their price objective on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Mizuho dropped their target price on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a report on Wednesday, July 10th. Finally, UBS Group lowered their target price on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $3,112.71.

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.