PineStone Scaled Back AutoZone Amid Record Stock Surge — But Here’s Why It’s Still a Core Holding

On Friday, PineStone Asset Management Inc. disclosed in a Securities and Exchange Commission filing that it sold AutoZone (NYSE:AZO) shares for an estimated $65.7 million in the third quarter.According to a filing with the U.S. Securities and Exchange Commission released on Friday, PineStone Asset Management Inc. reduced its stake in AutoZone (NYSE:AZO) by 16,388 shares during the third quarter. The estimated value of the shares sold was $65.7 million. After the sale, PineStone reported holding 265,305 shares valued at $1.1 billion as of September 30.This was a partial sale; AutoZone now represents 7.1% of PineStone’s 13F assets under management as of September 30.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool