Prudential Financial Inc. boosted its position in AutoZone Inc. (NYSE:AZO) by 11.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,234 shares of the company’s stock after buying an additional 4,470 shares during the period. Prudential Financial Inc. owned 0.15% of AutoZone worth $34,321,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of AutoZone by 166.3% in the second quarter. Nordea Investment Management AB now owns 757,122 shares of the company’s stock worth $601,034,000 after buying an additional 472,766 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of AutoZone by 6.8% in the first quarter. BlackRock Fund Advisors now owns 675,496 shares of the company’s stock worth $538,161,000 after buying an additional 42,911 shares in the last quarter. BlackRock Group LTD increased its position in shares of AutoZone by 1.3% in the first quarter. BlackRock Group LTD now owns 366,565 shares of the company’s stock worth $292,037,000 after buying an additional 4,737 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AutoZone by 1.3% in the first quarter. Geode Capital Management LLC now owns 252,306 shares of the company’s stock worth $200,614,000 after buying an additional 3,239 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of AutoZone during the fourth quarter worth $180,180,000. 95.35% of the stock is owned by institutional investors and hedge funds.

AutoZone Inc. (NYSE:AZO) traded up 0.03% on Tuesday, reaching $746.61. 86,372 shares of the company’s stock were exchanged. AutoZone Inc. has a 52-week low of $681.01 and a 52-week high of $819.54. The firm’s 50 day moving average price is $770.12 and its 200 day moving average price is $777.52. The company has a market cap of $21.82 billion, a PE ratio of 18.97 and a beta of 0.42.

Several equities research analysts have weighed in on AZO shares. Citigroup Inc. reaffirmed a “buy” rating on shares of AutoZone in a research note on Thursday, August 25th. Goldman Sachs Group Inc. set a $841.00 price target on shares of AutoZone and gave the company a “hold” rating in a research note on Monday. Zacks Investment Research downgraded shares of AutoZone from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Morgan Stanley set a $820.00 price target on shares of AutoZone and gave the company a “hold” rating in a research note on Thursday, August 11th. Finally, Argus reaffirmed a “buy” rating and issued a $875.00 price target on shares of AutoZone in a research note on Sunday, July 10th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. AutoZone currently has an average rating of “Buy” and a consensus target price of $843.39.

In other news, insider Thomas B. Newbern sold 16,870 shares of AutoZone stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $799.82, for a total value of $13,492,963.40. Following the completion of the sale, the insider now directly owns 15,977 shares in the company, valued at $12,778,724.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Albert Saltiel sold 1,650 shares of AutoZone stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $807.52, for a total transaction of $1,332,408.00. Following the completion of the sale, the vice president now owns 1,734 shares of the company’s stock, valued at $1,400,239.68. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

About AutoZone

AutoZone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company’s operating segments include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).

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