Forsta AP Fonden Cuts Stake in AutoZone, Inc. (NYSE:AZO)

Forsta AP Fonden lessened its stake in AutoZone, Inc. (NYSE:AZO) by 25.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,200 shares of the company’s stock after selling 1,100 shares during the quarter. Forsta AP Fonden’s holdings in AutoZone were worth $9,485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in AutoZone in the 1st quarter valued at $32,000. Riverview Trust Co purchased a new position in shares of AutoZone during the first quarter valued at about $41,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of AutoZone in the second quarter worth about $50,000. ORG Partners LLC purchased a new stake in shares of AutoZone in the second quarter worth about $50,000. Finally, Private Wealth Management Group LLC bought a new position in AutoZone during the fourth quarter valued at approximately $54,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.4 %

Shares of AutoZone stock opened at $3,116.82 on Friday. The stock’s fifty day moving average is $3,085.95 and its two-hundred day moving average is $3,009.85. AutoZone, Inc. has a 52 week low of $2,375.35 and a 52 week high of $3,256.37. The company has a market capitalization of $53.24 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AZO shares. Wolfe Research decreased their price objective 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. Morgan Stanley decreased their price target on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 22nd. Oppenheimer reissued a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a research note on Wednesday, June 26th. Wedbush restated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research report on Wednesday, July 10th. Finally, Citigroup dropped their price target on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.