AutoZone, Inc. $AZO Shares Sold by Private Trust Co. NA

Private Trust Co. NA lowered its stake in AutoZone, Inc. (NYSE:AZO) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148 shares of the company’s stock after selling 3 shares during the period. Private Trust Co. NA’s holdings in AutoZone were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. AlphaCore Capital LLC acquired a new stake in AutoZone in the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in shares of AutoZone in the 1st quarter valued at $27,000. Financial Network Wealth Advisors LLC raised its holdings in shares of AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock valued at $38,000 after purchasing an additional 4 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of AutoZone during the 2nd quarter worth $41,000. Finally, Cornerstone Planning Group LLC acquired a new position in shares of AutoZone during the first quarter worth $44,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In related news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction dated 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 owned 2,925 shares of the company’s stock, valued at $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction that occurred 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 sale, the vice president directly owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

AutoZone Stock Up 0.6%

AZO opened at $4,031.84 on Monday. AutoZone, Inc. has a 52 week low of $2,980.10 and a 52 week high of $4,388.11. The business’s 50 day moving average is $4,150.99 and its two-hundred day moving average is $3,865.73. The firm has a market cap of $67.65 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 1.90 and a beta of 0.40.

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

AutoZone declared that its board has initiated a share buyback plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZO. TD Cowen raised their price target on AutoZone from $4,300.00 to $4,900.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Roth Capital reissued a “buy” rating and set a $4,750.00 target price (down previously from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Morgan Stanley boosted their target price on AutoZone from $4,000.00 to $4,700.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. BMO Capital Markets increased their price target on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an “outperform” rating in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4,544.68.

AutoZone Company Profile

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.