Resolute Capital Asset Partners LLC Takes $4 Million Position in AutoZone, Inc. (NYSE:AZO)

Resolute Capital Asset Partners LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,350 shares of the company’s stock, valued at approximately $4,002,000. AutoZone makes up approximately 2.3% of Resolute Capital Asset Partners LLC’s portfolio, making the stock its 13th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AZO. Quent Capital LLC lifted its position in shares of AutoZone by 4.8% during the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock worth $277,000 after purchasing an additional 4 shares in the last quarter. Mather Group LLC. lifted its holdings in AutoZone by 1.8% during the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after buying an additional 4 shares in the last quarter. Conning Inc. boosted its position in AutoZone by 4.3% in the 2nd quarter. Conning Inc. now owns 98 shares of the company’s stock valued at $290,000 after buying an additional 4 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in AutoZone by 14.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock valued at $95,000 after buying an additional 4 shares during the period. Finally, Hohimer Wealth Management LLC grew its stake in shares of AutoZone by 1.4% in the fourth quarter. Hohimer Wealth Management LLC now owns 366 shares of the company’s stock worth $946,000 after acquiring an additional 5 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AZO has been the topic of several analyst reports. Mizuho reduced their price objective on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Citigroup lowered their price objective on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Guggenheim lifted their price target on shares of AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Evercore ISI lowered their price target on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Oppenheimer restated a “market perform” rating and issued a $2,600.00 price objective on shares of AutoZone in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,112.71.

AutoZone Stock Down 0.1 %

Shares of NYSE AZO opened at $3,074.71 on Thursday. The business has a 50-day moving average price of $3,100.68 and a 200 day moving average price of $3,011.63. The stock has a market cap of $52.53 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-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.