Chesley Taft & Associates LLC Cuts Stock Position in AutoZone, Inc. $AZO

Chesley Taft & Associates LLC lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 0.2% in the second quarter, Holdings Channel reports. The institutional investor owned 5,959 shares of the company’s stock after selling 10 shares during the period. AutoZone accounts for approximately 1.0% of Chesley Taft & Associates LLC’s portfolio, making the stock its 28th biggest position. Chesley Taft & Associates LLC’s holdings in AutoZone were worth $22,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AZO. Forum Financial Management LP increased its holdings in shares of AutoZone by 2.2% during the fourth quarter. Forum Financial Management LP now owns 138 shares of the company’s stock valued at $443,000 after acquiring an additional 3 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in AutoZone by 2.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company’s stock valued at $538,000 after purchasing an additional 3 shares during the last quarter. Focus Financial Network Inc. grew its position in AutoZone by 2.9% during the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company’s stock valued at $400,000 after purchasing an additional 3 shares during the last quarter. Blue Trust Inc. increased its stake in AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company’s stock valued at $339,000 after purchasing an additional 3 shares in the last quarter. Finally, Rappaport Reiches Capital Management LLC raised its holdings in AutoZone by 4.8% in the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company’s stock worth $252,000 after buying an additional 3 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Down 0.4%

Shares of NYSE:AZO opened at $4,217.47 on Wednesday. The stock has a 50 day moving average of $4,008.19 and a 200 day moving average of $3,786.61. The company has a market cap of $70.77 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 2.23 and a beta of 0.41. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,388.11.

Insiders Place Their Bets

In other news, SVP K. Michelle Borninkhof sold 750 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares of the company’s stock, valued at $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction 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 transaction, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AZO. Raymond James Financial reiterated a “strong-buy” rating and set a $4,900.00 price target (up previously from $4,200.00) on shares of AutoZone in a report on Tuesday. Barclays increased their target price on AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. DA Davidson boosted their price target on AutoZone from $4,192.00 to $4,850.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Guggenheim upped their price target on AutoZone from $3,850.00 to $4,100.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $4,100.00 price objective (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, eighteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $4,315.10.

AutoZone 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.