Inspire Investing LLC Reduces Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Inspire Investing LLC decreased its stake in AutoZone, Inc. (NYSE:AZO) by 35.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 359 shares of the company’s stock after selling 195 shares during the quarter. Inspire Investing LLC’s holdings in AutoZone were worth $1,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of AutoZone in the 1st quarter worth approximately $32,000. Riverview Trust Co bought a new position in AutoZone during the 1st quarter valued at about $41,000. Meeder Asset Management Inc. grew its holdings in 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 purchasing an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in AutoZone in the 2nd quarter worth about $50,000. Finally, ORG Partners LLC bought a new stake in AutoZone in the second quarter worth about $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 1.1 %

Shares of AZO stock opened at $3,040.09 on Friday. The stock has a market capitalization of $51.93 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.45 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The stock has a fifty day simple moving average of $3,103.78 and a two-hundred day simple moving average of $3,011.83.

Wall Street Analysts Forecast Growth

AZO has been the topic of several recent analyst reports. Barclays reduced their price target on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. StockNews.com raised AutoZone from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Wedbush reissued an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a research note on Thursday. Evercore ISI decreased their price target on AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Guggenheim raised their price target on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

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.