National Pension Service Has $145.89 Million Holdings in AutoZone, Inc. $AZO

National Pension Service increased its position in AutoZone, Inc. (NYSE:AZO) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,649 shares of the company’s stock after acquiring an additional 1,578 shares during the quarter. National Pension Service’s holdings in AutoZone were worth $145,891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AZO. California State Teachers Retirement System increased its stake in shares of AutoZone by 320,651.9% in the second quarter. California State Teachers Retirement System now owns 79,677,980 shares of the company’s stock worth $254,646,043,000 after purchasing an additional 79,653,139 shares during the period. BlackRock Inc. bought a new stake in AutoZone during the 2nd quarter valued at approximately $3,938,566,000. Norges Bank bought a new stake in AutoZone during the 4th quarter valued at approximately $939,205,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in AutoZone in the 2nd quarter valued at approximately $572,885,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AutoZone by 11,577.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 141,066 shares of the company’s stock valued at $450,838,000 after buying an additional 139,858 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Guggenheim lowered their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. TD Cowen dropped their target price on shares of AutoZone from $3,700.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Monday, August 31st. The Goldman Sachs Group cut their target price on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. reduced their price target on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $3,957.38.

AutoZone Price Performance

AZO opened at $2,878.18 on Friday. The company has a market capitalization of $47.00 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.46 and a beta of 0.34. The firm’s fifty day moving average price is $3,016.50 and its two-hundred day moving average price is $3,253.93. AutoZone, Inc. has a fifty-two week low of $2,876.25 and a fifty-two week high of $4,388.11.

AutoZone declared that its board has initiated a stock buyback program on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of AutoZone stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the sale, the vice president directly owned 441 shares in the company, valued at approximately $1,367,100. The trade was a 76.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc is a retailer and distributor of automotive replacement parts, accessories, and maintenance products. The company serves do-it-yourself customers, professional service technicians, and commercial repair businesses through its stores, distribution network, and online platform.

Its product offerings include replacement parts such as batteries, brakes, engine components, and ignition products, along with tools, fluids, filters, and other automotive accessories. AutoZone also provides services such as parts lookup, diagnostic assistance, battery testing and charging, and loaner tools for eligible repairs.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional locations in Mexico and Brazil.