Nippon Life Global Investors Americas Inc. Trims Stock Position in AutoZone, Inc. (NYSE:AZO)

Nippon Life Global Investors Americas Inc. decreased its stake in AutoZone, Inc. (NYSE:AZO) by 21.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,330 shares of the company’s stock after selling 930 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in AutoZone were worth $9,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZO. Rise Advisors LLC acquired a new stake in shares of AutoZone during the 1st quarter worth approximately $32,000. Riverview Trust Co purchased a new stake in shares of AutoZone during the 1st quarter worth about $41,000. Meeder Asset Management Inc. grew its position in shares of AutoZone by 50.0% during the 2nd 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 2nd quarter valued at about $50,000. Finally, ORG Partners LLC acquired a new position in AutoZone in the 2nd quarter worth about $50,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Down 0.6 %

Shares of NYSE:AZO opened at $3,020.66 on Monday. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37. The stock has a market cap of $51.60 billion, a P/E ratio of 20.89, a PEG ratio of 1.45 and a beta of 0.71. The business has a fifty day moving average of $3,105.66 and a two-hundred day moving average of $3,010.09.

Analyst Upgrades and Downgrades

AZO has been the topic of several research analyst reports. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday. Evercore ISI reduced their price objective on shares of AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research report on Friday. Oppenheimer reiterated a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Wedbush reissued an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research note on Thursday. Finally, Guggenheim raised their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3,129.44.

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.