AutoZone, Inc. (NYSE:AZO) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in shares of AutoZone, Inc. (NYSE:AZO) by 66.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,749 shares of the company’s stock after selling 34,551 shares during the quarter. Renaissance Technologies LLC’s holdings in AutoZone were worth $52,610,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of AutoZone by 35.3% in the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock valued at $11,138,000 after acquiring an additional 922 shares during the period. Sei Investments Co. increased its stake in AutoZone by 60.7% in the first 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. boosted its stake in shares of AutoZone by 12.9% during the first 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 grew its holdings in shares of AutoZone by 32.0% during the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after buying an additional 58,989 shares during the last quarter. Finally, Peak Financial Advisors LLC acquired a new position in AutoZone in the 2nd quarter valued at about $2,816,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AZO shares. Oppenheimer reiterated a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a research note on Wednesday, June 26th. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a research report on Wednesday, July 10th. Wolfe Research cut their price objective on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 22nd. Barclays reduced their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, Evercore ISI dropped their price target 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. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $3,112.71.

AutoZone Price Performance

Shares of AZO opened at $3,078.03 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 cap of $52.58 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. The firm has a 50 day simple moving average of $3,096.37 and a 200-day simple moving average of $3,011.19.

AutoZone 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.