Fulton Bank N.A. Has $1.34 Million Position in AutoZone, Inc. $AZO

Fulton Bank N.A. grew its position in AutoZone, Inc. (NYSE:AZO) by 5.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 362 shares of the company’s stock after purchasing an additional 19 shares during the quarter. Fulton Bank N.A.’s holdings in AutoZone were worth $1,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AZO. AlphaCore Capital LLC acquired a new position in shares of AutoZone in the 1st quarter valued at approximately $27,000. Saudi Central Bank acquired a new position in shares of AutoZone in the 1st quarter valued at approximately $27,000. Financial Network Wealth Advisors LLC raised its position in shares of AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock valued at $38,000 after buying an additional 4 shares in the last quarter. Cornerstone Planning Group LLC acquired a new position in shares of AutoZone in the 1st quarter valued at approximately $44,000. Finally, Clearstead Trust LLC acquired a new position in shares of AutoZone in the 1st quarter valued at approximately $46,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares of the company’s stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by insiders.

AutoZone Price Performance

AZO opened at $4,125.51 on Friday. AutoZone, Inc. has a fifty-two week low of $2,898.57 and a fifty-two week high of $4,388.11. The firm has a market capitalization of $69.23 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 2.22 and a beta of 0.41. The company’s 50 day moving average price is $4,025.68 and its two-hundred day moving average price is $3,794.14.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AZO. UBS Group lifted their price target on shares of AutoZone from $4,260.00 to $4,925.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Citigroup lifted their price target on shares of AutoZone from $3,900.00 to $4,900.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Evercore ISI lifted their price target on shares of AutoZone from $4,250.00 to $4,500.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a report on Monday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $4,100.00 price target (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $4,368.95.

AutoZone Company 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.