AutoZone, Inc. $AZO Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in AutoZone, Inc. (NYSE:AZO) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 569 shares of the company’s stock after selling 19 shares during the quarter. OLD National Bancorp IN’s holdings in AutoZone were worth $2,112,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Carolina Wealth Advisors LLC lifted its position in shares of AutoZone by 35.2% during the second quarter. Carolina Wealth Advisors LLC now owns 288 shares of the company’s stock worth $1,069,000 after purchasing an additional 75 shares in the last quarter. Penobscot Investment Management Company Inc. increased its stake in AutoZone by 4.8% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 833 shares of the company’s stock worth $3,092,000 after buying an additional 38 shares during the period. AMF Tjanstepension AB lifted its holdings in AutoZone by 43.7% in the 2nd quarter. AMF Tjanstepension AB now owns 11,285 shares of the company’s stock worth $41,893,000 after buying an additional 3,432 shares in the last quarter. LGT Fund Management Co Ltd. boosted its position in AutoZone by 17.5% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 894 shares of the company’s stock valued at $3,319,000 after buying an additional 133 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of AutoZone by 9.1% during the second quarter. QRG Capital Management Inc. now owns 300 shares of the company’s stock valued at $1,114,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of AutoZone 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 completion of the transaction, the vice president directly owned 1,244 shares in the company, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president directly owned 2,925 shares of the company’s stock, valued at $11,337,007.50. This trade 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.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. TD Cowen boosted their price target on AutoZone from $4,300.00 to $4,900.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Wells Fargo & Company cut their target price on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Evercore ISI increased their target price on AutoZone from $4,250.00 to $4,500.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Jefferies Financial Group lifted their price target on shares of AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $4,538.21.

AutoZone Price Performance

Shares of AZO opened at $4,173.92 on Tuesday. The stock has a market capitalization of $70.04 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.98 and a beta of 0.40. The business’s fifty day moving average price is $4,133.69 and its 200 day moving average price is $3,848.42. AutoZone, Inc. has a 12-month low of $2,980.10 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results 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 analyst estimates of $6.26 billion. During the same period last year, the company posted $51.58 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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.