Greenleaf Trust Grows Stake in AutoZone, Inc. (NYSE:AZO)

Greenleaf Trust boosted its position in shares of AutoZone, Inc. (NYSE:AZOFree Report) by 0.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 901 shares of the company’s stock after acquiring an additional 6 shares during the quarter. Greenleaf Trust’s holdings in AutoZone were worth $2,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of AutoZone by 51.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 30,538 shares of the company’s stock valued at $77,565,000 after buying an additional 10,359 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of AutoZone by 5.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,835 shares of the company’s stock valued at $4,661,000 after buying an additional 103 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of AutoZone by 13.8% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,651 shares of the company’s stock valued at $9,274,000 after buying an additional 442 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of AutoZone by 4.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 76,379 shares of the company’s stock valued at $194,002,000 after buying an additional 3,434 shares during the period. Finally, Aptus Capital Advisors LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at about $625,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AZO. Raymond James raised AutoZone from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $2,850.00 to $3,100.00 in a report on Wednesday, December 6th. William Blair reaffirmed an “outperform” rating on shares of AutoZone in a report on Wednesday, December 13th. Truist Financial upped their price target on AutoZone from $2,933.00 to $3,027.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Morgan Stanley upped their price target on AutoZone from $2,750.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, December 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $2,750.00 price target on shares of AutoZone in a report on Wednesday, November 29th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,858.35.

View Our Latest Analysis on AZO

Insider Activity

In related news, COO Thomas B. Newbern sold 7,800 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $2,551.62, for a total value of $19,902,636.00. Following the completion of the transaction, the chief operating officer now directly owns 2,519 shares in the company, valued at $6,427,530.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Thomas B. Newbern sold 7,800 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $2,551.62, for a total value of $19,902,636.00. Following the completion of the transaction, the chief operating officer now directly owns 2,519 shares in the company, valued at $6,427,530.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP K. Michelle Borninkhof sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $2,685.00, for a total value of $2,685,000.00. Following the completion of the transaction, the senior vice president now owns 521 shares of the company’s stock, valued at $1,398,885. The disclosure for this sale can be found here. Insiders sold 14,807 shares of company stock worth $38,827,861 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

AutoZone Price Performance

AZO stock opened at $2,680.00 on Monday. The business has a 50 day simple moving average of $2,665.09 and a 200-day simple moving average of $2,586.85. The firm has a market capitalization of $46.34 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.39 and a beta of 0.70. AutoZone, Inc. has a 1 year low of $2,277.88 and a 1 year high of $2,855.21.

AutoZone (NYSE:AZOGet Free Report) last posted its quarterly earnings results on Tuesday, December 5th. The company reported $32.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $31.57 by $0.98. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.19 billion. AutoZone had a negative return on equity of 57.23% and a net margin of 14.62%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $27.45 earnings per share. On average, equities research analysts expect that AutoZone, Inc. will post 150.5 EPS for the current year.

AutoZone Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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