AutoZone, Inc. (NYSE:AZO) Position Boosted by Wealthspire Advisors LLC

Wealthspire Advisors LLC lifted its stake in AutoZone, Inc. (NYSE:AZO) by 4.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 324 shares of the company’s stock after purchasing an additional 15 shares during the quarter. Wealthspire Advisors LLC’s holdings in AutoZone were worth $960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of AutoZone during the 4th quarter valued at $678,350,000. PineStone Asset Management Inc. grew its stake in AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in AutoZone in the 2nd quarter worth about $424,000. Captrust Financial Advisors increased its position in AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after purchasing an additional 129,193 shares during the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of AutoZone by 2,714.8% during the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after purchasing an additional 115,924 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup dropped their price objective on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Mizuho cut their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Wednesday, July 10th. Barclays cut their target price on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Finally, StockNews.com upgraded AutoZone from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,123.36 on Monday. The firm has a fifty day moving average price of $3,085.95 and a two-hundred day moving average price of $3,010.20. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The company has a market cap of $53.36 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71.

AutoZone Company 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.