Delphi Management Inc. MA Trims Stake in AutoZone, Inc. $AZO

Delphi Management Inc. MA reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 11.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308 shares of the company’s stock after selling 41 shares during the quarter. Delphi Management Inc. MA’s holdings in AutoZone were worth $1,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AZO. GAMMA Investing LLC increased its holdings in AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company’s stock worth $2,936,535,000 after purchasing an additional 770,005 shares during the period. Nuveen LLC purchased a new position in AutoZone during the 1st quarter worth $442,530,000. JPMorgan Chase & Co. increased its holdings in AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock worth $3,570,296,000 after purchasing an additional 65,368 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in AutoZone during the 4th quarter worth $95,480,000. Finally, Goldman Sachs Group Inc. increased its holdings in AutoZone by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 106,888 shares of the company’s stock worth $407,540,000 after purchasing an additional 24,933 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Price Performance

AutoZone stock opened at $4,327.37 on Friday. The stock has a market capitalization of $72.62 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 2.30 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,388.11. The business has a fifty day moving average price of $3,989.84 and a 200-day moving average price of $3,776.14.

Analyst Ratings Changes

AZO has been the topic of several research reports. Barclays raised their price objective on AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial set a $3,995.00 price objective on AutoZone in a report on Friday, May 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 28th. Finally, Bank of America upgraded AutoZone from a “neutral” rating to a “buy” rating and lifted their price target for the company from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AutoZone has an average rating of “Buy” and a consensus price target of $4,229.38.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares of the company’s stock, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the firm’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares of the company’s stock, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

About AutoZone

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.