AutoZone, Inc. (NYSE:AZO) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its stake in AutoZone, Inc. (NYSE:AZO) by 26.1% during the fourth quarter, HoldingsChannel reports. The firm owned 5,146 shares of the company’s stock after selling 1,813 shares during the quarter. Truist Financial Corp’s holdings in AutoZone were worth $13,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Venturi Wealth Management LLC increased its holdings in shares of AutoZone by 2.0% in the third quarter. Venturi Wealth Management LLC now owns 202 shares of the company’s stock valued at $513,000 after purchasing an additional 4 shares during the period. Plancorp LLC boosted its stake in shares of AutoZone by 3.0% in the third quarter. Plancorp LLC now owns 136 shares of the company’s stock valued at $345,000 after buying an additional 4 shares in the last quarter. Alcosta Capital Management Inc. boosted its stake in shares of AutoZone by 0.3% in the third quarter. Alcosta Capital Management Inc. now owns 1,255 shares of the company’s stock valued at $3,188,000 after buying an additional 4 shares in the last quarter. Hohimer Wealth Management LLC boosted its stake in shares of AutoZone by 1.1% in the third quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock valued at $917,000 after buying an additional 4 shares in the last quarter. Finally, Cypress Capital Group boosted its stake in shares of AutoZone by 1.2% in the third quarter. Cypress Capital Group now owns 416 shares of the company’s stock valued at $1,057,000 after buying an additional 5 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AZO shares. JPMorgan Chase & Co. lifted their price target on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Evercore ISI decreased their price target on AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. Wedbush lifted their price target on AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Barclays lifted their price target on AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,086.61.

Insider Activity

In other news, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the sale, the vice president now directly owns 910 shares in the company, valued at $2,912,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Philip B. Daniele sold 4,190 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the completion of the transaction, the chief executive officer now directly owns 900 shares in the company, valued at $2,845,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eric S. Gould sold 2,100 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total value of $6,720,000.00. Following the completion of the transaction, the vice president now owns 910 shares of the company’s stock, valued at $2,912,000. The disclosure for this sale can be found here. Insiders have sold 15,990 shares of company stock worth $50,335,193 over the last three months. 2.50% of the stock is currently owned by corporate insiders.

AutoZone Stock Down 0.3 %

Shares of NYSE:AZO opened at $2,946.81 on Thursday. AutoZone, Inc. has a 52-week low of $2,277.88 and a 52-week high of $3,256.37. The stock’s fifty day simple moving average is $3,043.94 and its 200-day simple moving average is $2,782.53. The company has a market capitalization of $51.04 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.49 and a beta of 0.70.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the prior year, the business earned $24.64 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.4 earnings per share for the current year.

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.