AutoZone, Inc. (NYSE:AZO – Get Free Report) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 427,600 shares, a drop of 6.5% from the August 15th total of 457,500 shares. Based on an average daily volume of 118,800 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.5% of the shares of the company are short sold.
AutoZone Price Performance
AZO opened at $3,074.71 on Thursday. The business has a 50 day simple moving average of $3,100.68 and a 200-day simple moving average of $3,011.63. AutoZone has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The stock has a market capitalization of $52.53 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.45 and a beta of 0.71.
Institutional Investors Weigh In On AutoZone
Institutional investors have recently made changes to their positions in the stock. PineStone Asset Management Inc. lifted its stake in shares of AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after purchasing an additional 179,543 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone during the 2nd quarter valued at approximately $424,000. Captrust Financial Advisors boosted its stake in shares of AutoZone by 564.2% during the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock worth $479,338,000 after acquiring an additional 129,193 shares in the last quarter. Baillie Gifford & Co. increased its stake in AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after purchasing an additional 115,924 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in AutoZone by 106.7% during the first quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after purchasing an additional 60,852 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on AZO
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.
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