Hsbc Holdings PLC Grows Holdings in AutoZone, Inc. (NYSE:AZO)

Hsbc Holdings PLC raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 17.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,418 shares of the company’s stock after purchasing an additional 5,384 shares during the quarter. Hsbc Holdings PLC owned 0.21% of AutoZone worth $105,040,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of AutoZone during the 1st quarter valued at $32,000. Riverview Trust Co purchased a new stake in AutoZone in the 1st quarter worth $41,000. Meeder Asset Management Inc. raised its holdings in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of AutoZone in the second quarter valued at about $50,000. Finally, ORG Partners LLC bought a new position in shares of AutoZone in the second quarter worth about $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AZO shares. Truist Financial decreased their target price on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Barclays lowered their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research note on Wednesday, July 10th. Oppenheimer reiterated a “market perform” rating and issued a $2,600.00 price target on shares of AutoZone in a report on Wednesday, June 26th. Finally, Citigroup dropped their price objective on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $3,112.71.

AutoZone Stock Performance

NYSE AZO opened at $3,074.71 on Thursday. The company has a market cap 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. The business’s 50 day moving average price is $3,100.68 and its 200-day moving average price is $3,011.63. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37.

About AutoZone

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.