Central Pacific Bank Trust Division Trims Holdings in AutoZone, Inc. (NYSE:AZO)

Central Pacific Bank Trust Division lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 8.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 266 shares of the company’s stock after selling 24 shares during the period. Central Pacific Bank Trust Division’s holdings in AutoZone were worth $852,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in shares of AutoZone during the third quarter worth $36,000. Meeder Asset Management Inc. boosted its holdings in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the period. Carolina Wealth Advisors LLC acquired a new position in AutoZone in the 3rd quarter valued at about $47,000. Darwin Wealth Management LLC purchased a new stake in AutoZone during the third quarter worth about $47,000. Finally, McIlrath & Eck LLC lifted its position in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In related news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. The trade was a 48.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Roth Capital raised AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and cut their price target for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Finally, Truist Financial boosted their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,400.32.

AutoZone Trading Up 0.6 %

Shares of NYSE AZO opened at $3,268.78 on Friday. The stock has a market cap of $54.86 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.73 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,416.71. The stock has a 50 day moving average of $3,185.10 and a two-hundred day moving average of $3,109.99.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the company earned $32.55 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts predict that AutoZone, Inc. will post 154.29 earnings per share for the current 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.