AutoZone, Inc. (NYSE:AZO) Stock Holdings Lowered by First Foundation Advisors

First Foundation Advisors trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 42.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 29 shares of the company’s stock after selling 21 shares during the quarter. First Foundation Advisors’ holdings in AutoZone were worth $86,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in shares of AutoZone by 35.3% during the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock worth $11,138,000 after acquiring an additional 922 shares in the last quarter. Sei Investments Co. boosted its position in shares of AutoZone by 60.7% in the 1st quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock valued at $70,326,000 after purchasing an additional 8,427 shares during the period. Oppenheimer & Co. Inc. raised its holdings in AutoZone by 12.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock worth $11,059,000 after buying an additional 401 shares during the period. Parnassus Investments LLC lifted its position in shares of AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after acquiring an additional 58,989 shares in the last quarter. Finally, Peak Financial Advisors LLC acquired a new position in AutoZone in the 2nd quarter worth approximately $2,816,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,130.18 on Wednesday. The stock has a market capitalization of $53.47 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.44 and a beta of 0.71. The business has a 50-day moving average of $3,069.26 and a two-hundred day moving average of $3,005.98. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of research analyst reports. Wolfe Research reduced their target price on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. Mizuho decreased their price objective on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. 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 note on Wednesday, June 26th. Truist Financial reduced their price target on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, Citigroup lowered their price objective on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,112.71.

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.