Varma Mutual Pension Insurance Co Has $10 Million Stake in AutoZone, Inc. (NYSE:AZO)

Varma Mutual Pension Insurance Co decreased its position in AutoZone, Inc. (NYSE:AZO) by 21.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,373 shares of the company’s stock after selling 917 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in AutoZone were worth $9,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AZO. Waddell & Associates LLC boosted its stake in shares of AutoZone by 2.7% in the second quarter. Waddell & Associates LLC now owns 683 shares of the company’s stock valued at $2,025,000 after buying an additional 18 shares during the period. Ballentine Partners LLC boosted its stake in shares of AutoZone by 3.1% in the second quarter. Ballentine Partners LLC now owns 638 shares of the company’s stock valued at $1,890,000 after buying an additional 19 shares during the period. Caprock Group LLC boosted its stake in shares of AutoZone by 132.1% in the second quarter. Caprock Group LLC now owns 796 shares of the company’s stock valued at $2,359,000 after buying an additional 453 shares during the period. Napean Trading & Investment Co Singapore PTE Ltd boosted its stake in shares of AutoZone by 170.6% in the second quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 1,970 shares of the company’s stock valued at $5,839,000 after buying an additional 1,242 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of AutoZone by 24.3% in the second quarter. Acadian Asset Management LLC now owns 1,809 shares of the company’s stock valued at $5,356,000 after buying an additional 354 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Guggenheim boosted their price target on AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Truist Financial cut their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. UBS Group cut their target price on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Morgan Stanley cut their target price on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. Finally, Barclays cut their target price on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

AutoZone Stock Up 0.7 %

NYSE AZO opened at $3,115.44 on Tuesday. The company has a market capitalization of $53.22 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 1.44 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The stock has a fifty day simple moving average of $3,064.00 and a 200 day simple moving average of $3,003.35.

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.