AutoZone, Inc. (NYSE:AZO) Stock Holdings Lifted by Conning Inc.

Conning Inc. raised its stake in AutoZone, Inc. (NYSE:AZO) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98 shares of the company’s stock after buying an additional 4 shares during the period. Conning Inc.’s holdings in AutoZone were worth $290,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AZO. Norges Bank bought a new position in shares of AutoZone in the fourth quarter valued at $678,350,000. PineStone Asset Management Inc. increased its holdings in shares of AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of AutoZone by 564.2% in the first 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 in the last quarter. Baillie Gifford & Co. raised its stake in AutoZone by 2,714.8% during the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares during the period. Finally, Bessemer Group Inc. raised its stake in AutoZone by 106.7% during the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock valued at $371,552,000 after purchasing an additional 60,852 shares during the period. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup cut their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Evercore ISI cut their target price 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. Wedbush reissued an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research note on Wednesday, July 10th. Wolfe Research cut their target price on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. Finally, 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. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Price Performance

NYSE:AZO traded up $14.85 during trading hours on Wednesday, reaching $3,196.70. The company’s stock had a trading volume of 60,252 shares, compared to its average volume of 142,736. The company has a market cap of $54.61 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.58 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The business’s 50-day moving average is $3,022.92 and its 200-day moving average is $2,972.42.

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.