Cornerstone Advisors LLC Sells 100 Shares of AutoZone, Inc. (NYSE:AZO)

Cornerstone Advisors LLC reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 12.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 720 shares of the company’s stock after selling 100 shares during the quarter. Cornerstone Advisors LLC’s holdings in AutoZone were worth $2,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingsview Wealth Management LLC grew its position in AutoZone by 21.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 143 shares of the company’s stock valued at $369,000 after buying an additional 25 shares during the period. ING Groep NV increased its position in AutoZone by 2,746.8% in the fourth quarter. ING Groep NV now owns 2,249 shares of the company’s stock worth $5,815,000 after buying an additional 2,170 shares in the last quarter. Norges Bank bought a new position in shares of AutoZone in the fourth quarter worth about $678,350,000. Coldstream Capital Management Inc. increased its holdings in AutoZone by 14.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 437 shares of the company’s stock worth $1,130,000 after acquiring an additional 55 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its stake in AutoZone by 114.4% during the 4th quarter. Thoroughbred Financial Services LLC now owns 669 shares of the company’s stock worth $1,729,000 after acquiring an additional 357 shares during the period. 92.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AZO. Truist Financial dropped their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Evercore ISI dropped their price objective on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Guggenheim increased their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. UBS Group dropped their price objective on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Wolfe Research dropped their price objective on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

AutoZone Trading Down 0.7 %

NYSE AZO opened at $3,101.04 on Tuesday. The firm has a market capitalization of $52.98 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.45 and a beta of 0.71. AutoZone, Inc. has a 12-month low of $2,375.35 and a 12-month high of $3,256.37. The firm’s fifty day simple moving average is $3,091.28 and its two-hundred day simple moving average is $3,010.86.

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.