Kentucky Retirement Systems Sells 9 Shares of AutoZone, Inc. (NYSE:AZO)

Kentucky Retirement Systems decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,304 shares of the company’s stock after selling 9 shares during the period. Kentucky Retirement Systems’ holdings in AutoZone were worth $3,865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. PineStone Asset Management Inc. grew its position in AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after buying an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in AutoZone during the second quarter worth about $424,000. Captrust Financial Advisors increased its holdings in AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after buying an additional 129,193 shares during the period. Baillie Gifford & Co. raised its position in shares of AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after buying an additional 115,924 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of AutoZone by 106.7% during the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after acquiring an additional 60,852 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Oppenheimer restated a “market perform” rating and set a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. Guggenheim lifted their target price on AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Evercore ISI reduced their price target on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com upgraded shares of AutoZone from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research note on Thursday. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Price Performance

AutoZone stock opened at $3,040.09 on Friday. The stock’s 50 day moving average is $3,103.78 and its 200 day moving average is $3,011.83. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The firm has a market cap of $51.93 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.45 and a beta of 0.71.

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.