AutoZone, Inc. $AZO Stock Position Decreased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 24.7% in the 1st quarter, HoldingsChannel reports. The firm owned 28,648 shares of the company’s stock after selling 9,389 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in AutoZone were worth $109,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AZO. Dark Forest Capital Management LP increased its position in shares of AutoZone by 520.8% in the first quarter. Dark Forest Capital Management LP now owns 987 shares of the company’s stock worth $3,763,000 after acquiring an additional 828 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of AutoZone in the 1st quarter valued at approximately $4,320,000. Flputnam Investment Management Co. boosted its stake in AutoZone by 3.2% in the 1st quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after purchasing an additional 3 shares during the period. Graham Capital Management L.P. acquired a new position in AutoZone in the 1st quarter worth approximately $1,639,000. Finally, Quarry LP grew its position in AutoZone by 266.7% during the 1st quarter. Quarry LP now owns 165 shares of the company’s stock worth $629,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded AutoZone from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. raised their price objective on AutoZone from $3,830.00 to $4,350.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Bank of America raised shares of AutoZone from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Roth Capital set a $4,135.00 price target on shares of AutoZone and gave the stock a “buy” rating in a report on Monday, June 2nd. Finally, DA Davidson boosted their price target on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $4,101.29.

AutoZone Stock Up 0.2%

AZO stock opened at $4,205.60 on Tuesday. The firm has a 50 day moving average of $3,877.21 and a two-hundred day moving average of $3,725.27. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,229.68. The company has a market capitalization of $70.57 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 2.51 and a beta of 0.41.

Insider Buying and Selling

In other news, Chairman William C. Rhodes III sold 27,500 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the completion of the sale, the chairman owned 8,546 shares in the company, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,250 shares of company stock worth $116,321,123. Corporate insiders own 2.10% of the company’s stock.

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.