Penobscot Investment Management Company Inc. Has $3.03 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Penobscot Investment Management Company Inc. raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795 shares of the company’s stock after purchasing an additional 84 shares during the period. Penobscot Investment Management Company Inc.’s holdings in AutoZone were worth $3,031,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company’s stock valued at $339,000 after purchasing an additional 3 shares in the last quarter. Colonial Trust Co SC raised its position in AutoZone by 24.5% during the fourth quarter. Colonial Trust Co SC now owns 61 shares of the company’s stock valued at $197,000 after purchasing an additional 12 shares in the last quarter. Comerica Bank raised its position in AutoZone by 5.4% during the fourth quarter. Comerica Bank now owns 4,262 shares of the company’s stock valued at $13,647,000 after purchasing an additional 217 shares in the last quarter. Barclays PLC raised its position in AutoZone by 82.6% during the fourth quarter. Barclays PLC now owns 170,216 shares of the company’s stock valued at $545,033,000 after purchasing an additional 77,015 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in AutoZone by 13.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 66,016 shares of the company’s stock valued at $211,383,000 after purchasing an additional 7,586 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Down 2.6%

Shares of AutoZone stock opened at $3,485.54 on Thursday. AutoZone, Inc. has a twelve month low of $2,801.49 and a twelve month high of $3,916.81. The stock has a market cap of $58.49 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.14 and a beta of 0.40. The company’s fifty day moving average is $3,696.27 and its 200 day moving average is $3,529.06.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the firm earned $36.69 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on AZO shares. Wedbush restated an “outperform” rating and set a $3,700.00 price objective on shares of AutoZone in a research report on Wednesday, March 5th. Truist Financial set a $3,995.00 price objective on shares of AutoZone in a research report on Friday, May 23rd. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 28th. Roth Mkm upped their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, Oppenheimer upgraded shares of AutoZone from a “market perform” rating to an “outperform” rating and set a $4,600.00 price target for the company in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $4,072.24.

Insider Buying and Selling

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president now owns 406 shares of the company’s stock, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jamere Jackson sold 2,612 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the sale, the chief financial officer now directly owns 427 shares in the company, valued at $1,591,877.35. This trade represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,662 shares of company stock valued at $131,999,089 over the last 90 days. 2.10% of the stock is owned by insiders.

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.