Atlantic Union Bankshares Corp Increases Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Atlantic Union Bankshares Corp increased its holdings in AutoZone, Inc. (NYSE:AZO) by 235.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 449 shares of the company’s stock after purchasing an additional 315 shares during the period. Atlantic Union Bankshares Corp’s holdings in AutoZone were worth $1,120,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in AutoZone by 5,037.7% during the first quarter. Envestnet Asset Management Inc. now owns 1,392,892 shares of the company’s stock valued at $58,264,000 after acquiring an additional 1,365,781 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of AutoZone by 107,977.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock worth $1,724,500,000 after purchasing an additional 698,613 shares in the last quarter. Gateway Advisory LLC lifted its stake in shares of AutoZone by 250,309.8% during the first quarter. Gateway Advisory LLC now owns 535,877 shares of the company’s stock worth $536,000 after purchasing an additional 535,663 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of AutoZone by 368.0% during the first quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock worth $841,242,000 after purchasing an additional 323,536 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of AutoZone during the fourth quarter worth about $658,788,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AZO shares. Bank of America upgraded AutoZone from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $2,120.00 to $2,465.00 in a research note on Thursday, June 1st. Evercore ISI boosted their price objective on AutoZone from $2,640.00 to $2,670.00 and gave the stock an “outperform” rating in a research note on Friday, September 8th. Wedbush boosted their price objective on AutoZone from $2,600.00 to $2,750.00 in a research note on Monday, May 22nd. StockNews.com started coverage on AutoZone in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group cut their price target on AutoZone from $2,899.00 to $2,840.00 in a research note on Tuesday, May 23rd. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,714.42.

AutoZone Price Performance

Shares of AZO stock opened at $2,526.09 on Tuesday. AutoZone, Inc. has a 12-month low of $2,050.21 and a 12-month high of $2,750.00. The firm has a market capitalization of $45.87 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.44 and a beta of 0.66. The business has a 50 day simple moving average of $2,505.11 and a 200 day simple moving average of $2,510.10.

Insider Buying and Selling

In related news, VP Charles Pleas III sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $2,546.55, for a total value of $10,695,510.00. Following the completion of the transaction, the vice president now directly owns 3,425 shares of the company’s stock, valued at approximately $8,721,933.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Charles Pleas III sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $2,546.55, for a total value of $10,695,510.00. Following the completion of the transaction, the vice president now directly owns 3,425 shares of the company’s stock, valued at approximately $8,721,933.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Albert Saltiel sold 2,245 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $2,500.00, for a total value of $5,612,500.00. Following the completion of the transaction, the vice president now directly owns 535 shares of the company’s stock, valued at $1,337,500. The disclosure for this sale can be found here. Corporate insiders own 2.59% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.