Private Trust Co. NA Cuts Stake in AutoZone, Inc. $AZO

Private Trust Co. NA lessened its position in AutoZone, Inc. (NYSE:AZO) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaCore Capital LLC acquired a new stake in AutoZone in the first quarter valued at about $27,000. Saudi Central Bank purchased a new position in shares of AutoZone during the 1st quarter worth approximately $27,000. Financial Network Wealth Advisors LLC lifted 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 buying an additional 4 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of AutoZone in the 2nd quarter valued at approximately $41,000. Finally, Cornerstone Planning Group LLC purchased a new stake in shares of AutoZone in the first quarter valued at approximately $44,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AutoZone

In other news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the subject of several research analyst reports. Zacks Research cut AutoZone from a “hold” rating to a “strong sell” rating in a research report on Friday, September 26th. DA Davidson reiterated a “buy” rating and issued a $4,850.00 price target on shares of AutoZone in a report on Wednesday, September 24th. Roth Capital reiterated a “buy” rating and issued a $4,750.00 price objective (down previously from $4,800.00) on shares of AutoZone in a research note on Thursday, September 25th. Evercore ISI upped their target price on shares of AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Finally, Citigroup dropped their target price on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4,544.68.

AutoZone Trading Up 0.6%

Shares of AZO opened at $4,031.84 on Monday. AutoZone, Inc. has a 12-month low of $2,980.10 and a 12-month high of $4,388.11. The stock has a market cap of $67.65 billion, a P/E ratio of 27.83, a PEG ratio of 1.90 and a beta of 0.40. The company has a 50-day moving average of $4,150.99 and a two-hundred day moving average of $3,865.73.

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

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

AutoZone 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.