Fiduciary Trust Co Boosts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Fiduciary Trust Co boosted its position in AutoZone, Inc. (NYSE:AZO) by 101.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 523 shares of the company’s stock after buying an additional 264 shares during the quarter. Fiduciary Trust Co’s holdings in AutoZone were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AZO. The Manufacturers Life Insurance Company increased its holdings in AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after acquiring an additional 60,483 shares during the last quarter. Peak Financial Advisors LLC bought a new position in AutoZone during the second quarter worth about $2,816,000. Verde Capital Management purchased a new position in shares of AutoZone in the third quarter worth about $1,137,000. Mizuho Securities USA LLC raised its position in shares of AutoZone by 592.0% in the third quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock valued at $29,012,000 after purchasing an additional 7,879 shares during the period. Finally, Swedbank AB lifted its stake in shares of AutoZone by 5.6% during the 2nd quarter. Swedbank AB now owns 16,524 shares of the company’s stock valued at $48,979,000 after buying an additional 869 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Trading Down 0.4 %

AZO opened at $3,176.81 on Friday. The stock has a market capitalization of $53.69 billion, a P/E ratio of 21.22, a PEG ratio of 1.61 and a beta of 0.71. The stock has a 50-day moving average price of $3,121.25 and a 200-day moving average price of $3,035.70. AutoZone, Inc. has a 12-month low of $2,510.00 and a 12-month high of $3,256.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $46.46 earnings per share. On average, equities research analysts predict that AutoZone, Inc. will post 158.09 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AZO shares. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a research note on Thursday, September 19th. Roth Capital upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Evercore ISI raised their target price on AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Truist Financial upped their price target on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

Insider Buying and Selling

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 in the last 90 days. 2.10% of the stock is owned by company insiders.

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.