AutoZone, Inc. $AZO Stake Trimmed by US Bancorp DE

US Bancorp DE lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 9.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,765 shares of the company’s stock after selling 297 shares during the quarter. US Bancorp DE’s holdings in AutoZone were worth $10,264,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AZO. Baxter Bros Inc. boosted its position in AutoZone by 11.1% during the 2nd quarter. Baxter Bros Inc. now owns 200 shares of the company’s stock worth $742,000 after acquiring an additional 20 shares during the period. Tectonic Advisors LLC grew its position in AutoZone by 8.0% during the second quarter. Tectonic Advisors LLC now owns 2,215 shares of the company’s stock valued at $8,223,000 after purchasing an additional 164 shares in the last quarter. Hager Investment Management Services LLC increased its stake in shares of AutoZone by 70.9% in the second quarter. Hager Investment Management Services LLC now owns 470 shares of the company’s stock worth $1,745,000 after acquiring an additional 195 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of AutoZone by 4,484.3% in the second quarter. Vontobel Holding Ltd. now owns 27,185 shares of the company’s stock worth $100,917,000 after acquiring an additional 26,592 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in shares of AutoZone by 2.9% in the second quarter. Maryland State Retirement & Pension System now owns 812 shares of the company’s stock worth $3,014,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO stock opened at $4,076.62 on Friday. The stock has a market cap of $68.41 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 1.92 and a beta of 0.40. AutoZone, Inc. has a one year low of $2,980.10 and a one year high of $4,388.11. The stock has a fifty day moving average price of $4,149.74 and a 200 day moving average price of $3,857.25.

AutoZone (NYSE:AZO) last issued its 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). 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 period last year, the business earned $51.58 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its board has authorized a stock repurchase plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares of the company’s stock, valued at $5,194,570.80. The trade was a 69.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AZO. Weiss Ratings reiterated a “buy (b-)” rating on shares of AutoZone in a research note on Wednesday. JPMorgan Chase & Co. upped 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. Rothschild & Co Redburn lifted their price target on shares of AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Morgan Stanley boosted their target price on shares of 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, Truist Financial lowered their price objective on shares of AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.