Summit Trail Advisors LLC Raises Stock Position in AutoZone, Inc. (NYSE:AZO)

Summit Trail Advisors LLC lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102 shares of the company’s stock after acquiring an additional 8 shares during the quarter. Summit Trail Advisors LLC’s holdings in AutoZone were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

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

AutoZone Trading Up 1.0 %

NYSE:AZO opened at $3,051.22 on Tuesday. The stock has a 50 day moving average of $3,107.86 and a 200-day moving average of $3,009.58. The firm has a market capitalization of $52.12 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 1.45 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

AZO has been the topic of several analyst reports. Evercore ISI dropped their price target on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating on the stock in a research note on Friday. Oppenheimer reissued a “market perform” rating and issued a $2,600.00 price target on shares of AutoZone in a report on Wednesday, June 26th. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Saturday. Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. Finally, Guggenheim lifted their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,129.44.

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.