Profund Advisors LLC Trims Stake in AutoZone, Inc. (NYSE:AZO)

Profund Advisors LLC cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 16.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 342 shares of the company’s stock after selling 68 shares during the period. Profund Advisors LLC’s holdings in AutoZone were worth $1,014,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Beddow Capital Management Inc. grew its stake in shares of AutoZone by 2.5% during the 2nd quarter. Beddow Capital Management Inc. now owns 411 shares of the company’s stock valued at $1,218,000 after acquiring an additional 10 shares during the period. Ensign Peak Advisors Inc raised its holdings in AutoZone by 5.6% during the second quarter. Ensign Peak Advisors Inc now owns 56,851 shares of the company’s stock valued at $168,512,000 after acquiring an additional 3,027 shares during the period. Summit Trail Advisors LLC lifted its holdings in AutoZone by 8.5% in the 2nd quarter. Summit Trail Advisors LLC now owns 102 shares of the company’s stock worth $301,000 after purchasing an additional 8 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in AutoZone by 5.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,248 shares of the company’s stock valued at $3,699,000 after buying an additional 61 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of AutoZone by 22.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 717 shares of the company’s stock worth $2,126,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

AZO opened at $3,051.22 on Tuesday. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The stock has a market cap of $52.12 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.45 and a beta of 0.71. The stock’s 50 day moving average price is $3,107.86 and its 200-day moving average price is $3,009.58.

Analysts Set New Price Targets

A number of analysts have issued reports on AZO shares. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. Guggenheim boosted their target price on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Saturday. Oppenheimer reaffirmed a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a research note on Wednesday, June 26th. Finally, Evercore ISI lowered their target price on AutoZone from $3,900.00 to $3,350.00 and set an “outperform” rating for the company in a research report on Friday. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target 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.