AutoZone, Inc. $AZO Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,765 shares of the company’s stock after selling 297 shares during the period. US Bancorp DE’s holdings in AutoZone were worth $10,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AlphaCore Capital LLC purchased a new stake in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in AutoZone in the first quarter valued at $27,000. Financial Network Wealth Advisors LLC raised its holdings in AutoZone by 66.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock valued at $38,000 after acquiring an additional 4 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in AutoZone in the second quarter valued at $41,000. Finally, Cornerstone Planning Group LLC acquired a new stake in AutoZone in the first quarter valued at $44,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AutoZone in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. BNP Paribas Exane lifted their target price on AutoZone from $4,155.00 to $4,811.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Morgan Stanley lifted their target price on AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Finally, Guggenheim lifted their target price on AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $4,544.68.

AutoZone Price Performance

NYSE:AZO opened at $4,076.62 on Friday. The business has a 50 day simple moving average of $4,149.74 and a 200 day simple moving average of $3,857.25. The firm has a market capitalization of $68.41 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.92 and a beta of 0.40. AutoZone, Inc. has a 12-month low of $2,980.10 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). The firm had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $51.58 EPS. Research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.