Verdence Capital Advisors LLC Purchases 20 Shares of AutoZone, Inc. (NYSE:AZO)

Verdence Capital Advisors LLC raised its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.0% during the second quarter, HoldingsChannel.com reports. The firm owned 2,087 shares of the company’s stock after acquiring an additional 20 shares during the quarter. Verdence Capital Advisors LLC’s holdings in AutoZone were worth $6,186,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AZO. Boston Partners grew its stake in shares of AutoZone by 1.7% during the first quarter. Boston Partners now owns 382,169 shares of the company’s stock worth $1,202,596,000 after purchasing an additional 6,226 shares during the period. PineStone Asset Management Inc. grew its position in shares of AutoZone by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock worth $918,998,000 after buying an additional 179,543 shares during the period. Norges Bank bought a new stake in shares of AutoZone in the 4th quarter valued at about $678,350,000. Parnassus Investments LLC increased its stake in shares of AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after acquiring an additional 58,989 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of AutoZone by 11.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock valued at $550,296,000 after acquiring an additional 22,507 shares during the period. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Mizuho dropped their price objective on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Wedbush reiterated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a report on Wednesday, July 10th. Evercore ISI lowered their price target on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Truist Financial dropped their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

AutoZone Trading Up 1.2 %

Shares of NYSE AZO traded up $36.55 during midday trading on Monday, reaching $3,162.22. The company’s stock had a trading volume of 84,034 shares, compared to its average volume of 143,743. The stock has a 50 day simple moving average of $3,018.56 and a 200-day simple moving average of $2,969.39. The stock has a market capitalization of $54.02 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.58 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week 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.