PNC Financial Services Group Inc. Boosts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

PNC Financial Services Group Inc. increased its position in AutoZone, Inc. (NYSE:AZO) by 0.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 43,262 shares of the company’s stock after purchasing an additional 113 shares during the period. PNC Financial Services Group Inc.’s holdings in AutoZone were worth $138,525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of AutoZone in the third quarter worth $36,000. Darwin Wealth Management LLC bought a new stake in AutoZone in the 3rd quarter worth about $47,000. Crews Bank & Trust bought a new position in AutoZone during the 4th quarter valued at about $61,000. McIlrath & Eck LLC lifted its stake in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after acquiring an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of AutoZone during the 3rd quarter valued at about $66,000. 92.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AZO shares. UBS Group boosted their price objective on shares of AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial increased their price target on AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Guggenheim increased their target price on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Mizuho raised their target price on AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,646.62.

AutoZone Trading Up 0.1 %

NYSE AZO opened at $3,620.28 on Friday. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,636.96. The stock has a market cap of $60.76 billion, a PE ratio of 24.19, a P/E/G ratio of 1.86 and a beta of 0.71. The stock’s 50 day moving average is $3,365.96 and its 200 day moving average is $3,229.85.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares in the company, valued at approximately $177,500. This represents a 76.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

About AutoZone

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.