Raymond James Trust N.A. Acquires New Stake in AutoZone, Inc. (AZO)

Raymond James Trust N.A. acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 801 shares of the company’s stock, valued at approximately $457,000.

Several other hedge funds have also recently bought and sold shares of AZO. Strs Ohio boosted its position in shares of AutoZone by 1.1% during the first quarter. Strs Ohio now owns 1,135 shares of the company’s stock worth $820,000 after buying an additional 12 shares during the period. First Trust Advisors LP boosted its position in shares of AutoZone by 126.8% during the first quarter. First Trust Advisors LP now owns 10,932 shares of the company’s stock worth $7,904,000 after buying an additional 6,111 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of AutoZone by 5.4% during the first quarter. UBS Asset Management Americas Inc. now owns 111,238 shares of the company’s stock worth $80,431,000 after buying an additional 5,695 shares during the period. Virginia Retirement Systems ET AL boosted its position in shares of AutoZone by 11.5% during the first quarter. Virginia Retirement Systems ET AL now owns 39,800 shares of the company’s stock worth $28,777,000 after buying an additional 4,100 shares during the period. Finally, Summit Asset Management LLC boosted its position in shares of AutoZone by 0.9% during the first quarter. Summit Asset Management LLC now owns 1,934 shares of the company’s stock worth $1,398,000 after buying an additional 18 shares during the period. 96.06% of the stock is owned by institutional investors.

AutoZone, Inc. (AZO) opened at 569.89 on Friday. The firm has a market cap of $15.97 billion, a P/E ratio of 13.16 and a beta of 0.62. AutoZone, Inc. has a 52-week low of $491.13 and a 52-week high of $813.70. The stock has a 50 day moving average price of $533.51 and a 200 day moving average price of $615.92.

In related news, VP William T. Giles sold 10,000 shares of AutoZone stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $581.10, for a total value of $5,811,000.00. Following the sale, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Andrew Mckenna purchased 300 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was bought at an average cost of $507.00 per share, for a total transaction of $152,100.00. Following the acquisition, the director now directly owns 5,131 shares in the company, valued at approximately $2,601,417. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

AZO has been the subject of several recent research reports. Bank of America Corporation reaffirmed a “buy” rating and set a $625.00 price objective on shares of AutoZone in a research report on Tuesday, September 5th. Zacks Investment Research raised AutoZone from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Barclays PLC reduced their price objective on AutoZone from $870.00 to $710.00 and set an “overweight” rating for the company in a research report on Thursday, July 6th. Wolfe Research cut AutoZone from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. Finally, BidaskClub raised AutoZone from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $776.64.

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AutoZone Company Profile

Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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