AutoZone, Inc. (NYSE:AZO) Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 21.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,330 shares of the company’s stock after selling 930 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in AutoZone were worth $9,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AZO. Rise Advisors LLC purchased a new position in shares of AutoZone during the 1st quarter worth $32,000. Riverview Trust Co purchased a new stake in AutoZone in the 1st quarter valued at about $41,000. Meeder Asset Management Inc. lifted its position in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after buying an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in AutoZone during the second quarter worth about $50,000. Finally, ORG Partners LLC acquired a new stake in shares of AutoZone during the second quarter valued at about $50,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Down 0.6 %

Shares of AutoZone stock opened at $3,020.66 on Monday. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The company has a 50 day moving average of $3,105.66 and a 200 day moving average of $3,010.09. The company has a market capitalization of $51.60 billion, a P/E ratio of 20.89, a P/E/G ratio of 1.45 and a beta of 0.71.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Thursday. Evercore ISI lowered their price target on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research report on Friday. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday. Oppenheimer reissued a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research note on Wednesday, June 26th. Finally, 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. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3,129.44.

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.