Cambridge Investment Research Advisors Inc. Sells 764 Shares of AutoZone, Inc. (NYSE:AZO)

Cambridge Investment Research Advisors Inc. reduced its stake in AutoZone, Inc. (NYSE:AZO) by 27.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,008 shares of the company’s stock after selling 764 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in AutoZone were worth $5,952,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of AutoZone in the 1st quarter worth $32,000. Riverview Trust Co bought a new position in shares of AutoZone in the 1st quarter worth $41,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone in the 2nd quarter worth $50,000. ORG Partners LLC bought a new position in AutoZone during the second quarter worth about $50,000. Finally, Private Wealth Management Group LLC bought a new position in AutoZone during the fourth quarter worth about $54,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

NYSE:AZO opened at $3,196.70 on Thursday. The stock’s 50-day simple moving average is $3,027.23 and its 200 day simple moving average is $2,975.98. The company has a market cap of $54.61 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.58 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a report on Wednesday, July 10th. Mizuho reduced their target price on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Wolfe Research reduced their target price on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 22nd. Evercore ISI reduced their target price on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Barclays reduced their target price on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,112.71.

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.