Pitcairn Co. raised its position in AutoZone, Inc. (NYSE:AZO) by 95.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,711 shares of the company’s stock after buying an additional 837 shares during the quarter. Pitcairn Co.’s holdings in AutoZone were worth $1,881,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC grew its stake in AutoZone by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 353,880 shares of the company’s stock worth $296,182,000 after buying an additional 14,661 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in AutoZone during the first quarter worth approximately $376,000. Janney Montgomery Scott LLC grew its stake in AutoZone by 40.5% during the first quarter. Janney Montgomery Scott LLC now owns 1,270 shares of the company’s stock worth $1,301,000 after buying an additional 366 shares during the period. Parallel Advisors LLC lifted its position in shares of AutoZone by 19.8% during the first quarter. Parallel Advisors LLC now owns 109 shares of the company’s stock worth $112,000 after purchasing an additional 18 shares in the last quarter. Finally, HL Financial Services LLC acquired a new position in shares of AutoZone during the first quarter worth $244,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the stock. Citigroup boosted their target price on shares of AutoZone from $1,206.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. CIBC raised shares of AutoZone from a “market perform” rating to an “outperform” rating in a research report on Friday, June 28th. Zacks Investment Research raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $1,156.00 target price on the stock in a research report on Friday, June 7th. Wells Fargo & Co reissued a “buy” rating and set a $1,140.00 target price on shares of AutoZone in a research report on Tuesday, May 21st. Finally, Wedbush reissued an “outperform” rating and set a $1,100.00 target price (up from $1,030.00) on shares of AutoZone in a research report on Wednesday, May 22nd. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,061.25.
In related news, insider Albert Saltiel sold 1,800 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $1,114.09, for a total value of $2,005,362.00. Following the sale, the insider now directly owns 1,965 shares of the company’s stock, valued at $2,189,186.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ronald B. Griffin sold 4,570 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $1,124.37, for a total transaction of $5,138,370.90. Following the completion of the sale, the vice president now directly owns 4,974 shares in the company, valued at $5,592,616.38. The disclosure for this sale can be found here. Insiders sold 10,720 shares of company stock worth $12,007,399 over the last ninety days. 2.80% of the stock is currently owned by corporate insiders.
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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