First Republic Investment Management Inc. Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

First Republic Investment Management Inc. reduced its stake in AutoZone, Inc. (NYSE:AZO) by 52.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 399 shares of the company’s stock after selling 448 shares during the quarter. First Republic Investment Management Inc.’s holdings in AutoZone were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Strategy Asset Managers LLC boosted its stake in shares of AutoZone by 1.9% in the second quarter. Strategy Asset Managers LLC now owns 545 shares of the company’s stock valued at $614,000 after buying an additional 10 shares in the last quarter. AIA Investment Management Private Ltd boosted its stake in shares of AutoZone by 12.9% in the first quarter. AIA Investment Management Private Ltd now owns 96 shares of the company’s stock valued at $81,000 after buying an additional 11 shares in the last quarter. CX Institutional boosted its stake in shares of AutoZone by 13.2% in the second quarter. CX Institutional now owns 103 shares of the company’s stock valued at $116,000 after buying an additional 12 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of AutoZone by 0.6% in the second quarter. CIBC Asset Management Inc now owns 2,116 shares of the company’s stock valued at $2,387,000 after buying an additional 13 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in shares of AutoZone by 2.6% in the second quarter. Profund Advisors LLC now owns 587 shares of the company’s stock valued at $662,000 after buying an additional 15 shares in the last quarter. Institutional investors own 88.62% of the company’s stock.

A number of analysts recently weighed in on the company. DA Davidson assumed coverage on AutoZone in a research note on Friday, August 14th. They issued a “buy” rating and a $1,380.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $1,300.00 target price on shares of AutoZone in a research report on Tuesday, June 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $1,250.00 target price (up from $1,119.00) on shares of AutoZone in a research report on Wednesday, May 27th. Credit Suisse Group reiterated a “buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Finally, UBS Group boosted their target price on AutoZone from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $1,247.72.

AutoZone stock opened at $1,242.95 on Wednesday. The firm has a market capitalization of $29.00 billion, a P/E ratio of 19.52, a PEG ratio of 1.88 and a beta of 0.92. The stock has a fifty day moving average price of $1,202.52 and a 200 day moving average price of $1,081.35. AutoZone, Inc. has a 52 week low of $684.91 and a 52 week high of $1,274.41.

In related news, VP Philip B. Daniele sold 176 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $1,100.21, for a total value of $193,636.96. Following the completion of the transaction, the vice president now directly owns 247 shares in the company, valued at $271,751.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

AutoZone 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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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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