Dorsey & Whitney Trust CO LLC Has $1.09 Million Holdings in AutoZone, Inc. $AZO

Dorsey & Whitney Trust CO LLC cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 14.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 293 shares of the company’s stock after selling 48 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in AutoZone were worth $1,088,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. AlphaCore Capital LLC acquired a new stake in shares of AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in AutoZone in the first quarter worth $27,000. Aspect Partners LLC grew its holdings in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the period. Bank of Jackson Hole Trust bought a new stake in AutoZone in the second quarter valued at $33,000. Finally, NewSquare Capital LLC raised its holdings in shares of AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after purchasing an additional 3 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

AZO has been the subject of a number of research analyst reports. Erste Group Bank lowered AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. BMO Capital Markets boosted their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the company an “outperform” rating in a report on Thursday, September 25th. Truist Financial cut their target price on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Citigroup reduced their price target on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Finally, Evercore ISI upped their price objective on shares of AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average target price of $4,551.56.

AutoZone Trading Down 0.8%

Shares of NYSE:AZO opened at $3,823.08 on Wednesday. The stock has a market cap of $63.59 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. The stock’s fifty day simple moving average is $3,993.94 and its two-hundred day simple moving average is $3,892.71. AutoZone, Inc. has a 1-year low of $3,036.40 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the company earned $51.58 EPS. The business’s revenue was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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

Insider Buying and Selling at AutoZone

In related news, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the sale, the senior vice president directly owned 416 shares in the company, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Philip B. Daniele sold 2,533 shares of the business’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the transaction, the chief executive officer directly owned 55 shares in the company, valued at approximately $221,148.40. This represents a 97.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 5,693 shares of company stock worth $23,259,891. Insiders own 2.60% of the company’s stock.

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.