Tiverton Asset Management LLC bought a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 800 shares of the company’s stock, valued at approximately $457,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AZO. BlackRock Inc. grew its stake in shares of AutoZone by 2,993.2% during the first quarter. BlackRock Inc. now owns 2,029,985 shares of the company’s stock valued at $1,467,778,000 after buying an additional 1,964,358 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of AutoZone by 59.7% during the second quarter. JPMorgan Chase & Co. now owns 1,018,416 shares of the company’s stock valued at $580,966,000 after buying an additional 380,824 shares during the last quarter. OppenheimerFunds Inc. grew its stake in shares of AutoZone by 103.6% during the first quarter. OppenheimerFunds Inc. now owns 693,624 shares of the company’s stock valued at $501,525,000 after buying an additional 352,990 shares during the last quarter. CI Global Investments Inc. grew its stake in shares of AutoZone by 437.2% during the second quarter. CI Global Investments Inc. now owns 321,207 shares of the company’s stock valued at $183,236,000 after buying an additional 261,417 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of AutoZone during the first quarter valued at approximately $114,285,000. 96.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the company. Deutsche Bank AG cut their target price on AutoZone from $800.00 to $650.00 and set a “hold” rating on the stock in a research note on Thursday, May 25th. BTIG Research reissued a “buy” rating and issued a $825.00 price objective on shares of AutoZone in a research note on Wednesday, May 24th. CIBC reissued a “buy” rating and issued a $900.00 price objective on shares of AutoZone in a research note on Wednesday, May 24th. Oppenheimer Holdings, Inc. set a $900.00 price objective on AutoZone and gave the stock a “buy” rating in a research note on Tuesday, May 23rd. Finally, Bank of America Corporation cut AutoZone from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $750.00 to $575.00 in a research note on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. AutoZone has an average rating of “Hold” and an average price target of $776.64.
In other news, Director William Andrew Mckenna purchased 300 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was purchased at an average cost of $507.00 per share, with a total value of $152,100.00. Following the completion of the acquisition, the director now directly owns 5,131 shares of the company’s stock, valued at approximately $2,601,417. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William T. Giles sold 10,000 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the transaction, the vice president now directly owns 18,500 shares of the company’s stock, valued at $10,750,350. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
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Shares of AutoZone, Inc. (AZO) opened at 569.89 on Friday. The stock’s 50 day moving average price is $533.51 and its 200-day moving average price is $615.92. AutoZone, Inc. has a 52-week low of $491.13 and a 52-week high of $813.70. The firm has a market capitalization of $15.97 billion, a PE ratio of 13.16 and a beta of 0.62.
AutoZone Company Profile
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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