Kayne Anderson Rudnick Investment Management LLC Reduces Stock Position in AutoZone, Inc. (NYSE:AZO)

Kayne Anderson Rudnick Investment Management LLC trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 99.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16 shares of the company’s stock after selling 9,356 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in AutoZone were worth $49,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AZO. SG Americas Securities LLC increased its holdings in shares of AutoZone by 35.3% in the first quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock worth $11,138,000 after purchasing an additional 922 shares during the period. Sei Investments Co. increased its position in shares of AutoZone by 60.7% in the first quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock worth $70,326,000 after purchasing an additional 8,427 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in AutoZone by 12.9% in 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 in the last quarter. Parnassus Investments LLC grew its position in AutoZone by 32.0% in the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after acquiring an additional 58,989 shares in the last quarter. Finally, Peak Financial Advisors LLC purchased a new stake in AutoZone during the second quarter valued at about $2,816,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,046.64 on Wednesday. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The stock has a market capitalization of $52.05 billion, a P/E ratio of 21.07, a P/E/G ratio of 1.45 and a beta of 0.71. The company’s 50-day moving average is $3,109.08 and its 200 day moving average is $3,009.36.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AZO shares. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Saturday. Wedbush reiterated an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a research report on Thursday, September 19th. Guggenheim boosted their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a report on Wednesday, June 26th. Finally, Evercore ISI lowered their price target on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s 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.