Paralel Advisors LLC Sells 53 Shares of AutoZone, Inc. (NYSE:AZO)

Paralel Advisors LLC decreased its position in AutoZone, Inc. (NYSE:AZO) by 6.8% during the 2nd quarter, Holdings Channel reports. The firm owned 725 shares of the company’s stock after selling 53 shares during the quarter. Paralel Advisors LLC’s holdings in AutoZone were worth $2,149,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Private Advisor Group LLC raised its holdings in shares of AutoZone by 37.1% in the fourth quarter. Private Advisor Group LLC now owns 680 shares of the company’s stock valued at $1,758,000 after buying an additional 184 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of AutoZone during the fourth quarter valued at approximately $471,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of AutoZone by 977.8% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 97 shares of the company’s stock valued at $251,000 after purchasing an additional 88 shares in the last quarter. Dana Investment Advisors Inc. raised its position in AutoZone by 1.0% in the 4th quarter. Dana Investment Advisors Inc. now owns 1,038 shares of the company’s stock worth $2,684,000 after purchasing an additional 10 shares during the last quarter. Finally, NBC Securities Inc. lifted its holdings in AutoZone by 2.0% during the 4th quarter. NBC Securities Inc. now owns 357 shares of the company’s stock worth $923,000 after buying an additional 7 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. 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. Morgan Stanley dropped their price objective on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a report on Wednesday, May 22nd. Wolfe Research reduced 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. Truist Financial lowered 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, Barclays cut their price objective on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone Stock Performance

NYSE AZO traded down $48.61 on Friday, reaching $3,092.56. The company had a trading volume of 107,600 shares, compared to its average volume of 141,520. The company’s fifty day moving average is $3,058.29 and its 200-day moving average is $2,998.94. The firm has a market capitalization of $52.83 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 1.60 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37.

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.