Greenleaf Trust Sells 44 Shares of AutoZone, Inc. $AZO

Greenleaf Trust lessened its stake in AutoZone, Inc. (NYSE:AZO) by 6.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 624 shares of the company’s stock after selling 44 shares during the quarter. Greenleaf Trust’s holdings in AutoZone were worth $2,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new stake in AutoZone in the first quarter valued at about $27,000. Saudi Central Bank bought a new stake in AutoZone in the first quarter valued at about $27,000. Financial Network Wealth Advisors LLC increased 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 purchasing an additional 4 shares during the last quarter. Cornerstone Planning Group LLC acquired a new position in AutoZone in the first quarter valued at about $44,000. Finally, Clearstead Trust LLC acquired a new position in AutoZone in the first quarter valued at about $46,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

AZO stock opened at $4,285.90 on Wednesday. The stock has a market capitalization of $71.92 billion, a P/E ratio of 29.58, a P/E/G ratio of 2.02 and a beta of 0.41. The business has a 50-day moving average of $4,100.33 and a 200-day moving average of $3,829.35. AutoZone, Inc. has a fifty-two week low of $2,980.10 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last released 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 company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the company posted $51.58 EPS. The business’s revenue was up .6% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. Roth Capital reissued a “buy” rating and issued a $4,750.00 target price (down from $4,800.00) on shares of AutoZone in a research note on Thursday, September 25th. JPMorgan Chase & Co. boosted their target price on AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Citigroup decreased their target price on AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. Finally, Morgan Stanley boosted their target price on AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $4,538.21.

Insider Activity

In related news, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the sale, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the sale, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% 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.