Northwestern Mutual Investment Management Company LLC lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 80.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,146 shares of the company’s stock after selling 4,611 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in AutoZone were worth $910,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. American Beacon Advisors Inc. acquired a new stake in AutoZone during the 1st quarter valued at $104,000. Alpha Windward LLC grew its holdings in AutoZone by 3.2% during the 2nd quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after purchasing an additional 8 shares in the last quarter. Global X Management Co. LLC grew its holdings in AutoZone by 12.9% during the 2nd quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock valued at $184,000 after purchasing an additional 37 shares in the last quarter. Colony Group LLC acquired a new stake in AutoZone during the 1st quarter valued at $205,000. Finally, Wesbanco Bank Inc. grew its holdings in AutoZone by 17.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 365 shares of the company’s stock valued at $208,000 after purchasing an additional 55 shares in the last quarter. 96.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of AutoZone, Inc. (NYSE:AZO) traded up 1.25% during mid-day trading on Friday, hitting $570.60. 258,000 shares of the stock were exchanged. AutoZone, Inc. has a 12-month low of $491.13 and a 12-month high of $813.70. The firm has a 50-day moving average price of $532.34 and a 200 day moving average price of $617.15. The company has a market capitalization of $15.99 billion, a PE ratio of 13.18 and a beta of 0.62.
Several brokerages have weighed in on AZO. Deutsche Bank AG decreased their price objective on shares of AutoZone from $800.00 to $650.00 and set a “hold” rating for the company in a report on Thursday, May 25th. BTIG Research reissued a “buy” rating and set a $825.00 price objective on shares of AutoZone in a report on Wednesday, May 24th. CIBC reaffirmed a “buy” rating and issued a $900.00 price target on shares of AutoZone in a report on Wednesday, May 24th. Oppenheimer Holdings, Inc. set a $900.00 price target on shares of AutoZone and gave the company a “buy” rating in a report on Tuesday, May 23rd. Finally, Bank of America Corporation lowered shares of AutoZone from a “buy” rating to a “neutral” rating and decreased their price target for the company from $750.00 to $575.00 in a report on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $776.64.
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In other news, Director William Andrew Mckenna bought 300 shares of the stock in a transaction dated Thursday, July 13th. The shares were bought at an average cost of $507.00 per share, with a total value of $152,100.00. Following the completion of the transaction, the director now directly owns 5,131 shares of the company’s stock, valued at $2,601,417. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William T. Giles sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total value of $5,811,000.00. Following the transaction, the vice president now directly owns 18,500 shares in the company, valued at $10,750,350. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
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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