AutoZone, Inc. (NYSE:AZO) Stake Lessened by Truist Financial Corp

Truist Financial Corp decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 10.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,379 shares of the company’s stock after selling 516 shares during the quarter. Truist Financial Corp’s holdings in AutoZone were worth $12,980,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its holdings in shares of AutoZone by 4.8% in the first quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after buying an additional 4 shares during the period. Mather Group LLC. boosted its position in shares of AutoZone by 1.8% during the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after purchasing an additional 4 shares in the last quarter. Conning Inc. grew its stake in shares of AutoZone by 4.3% in the 2nd quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after purchasing an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of AutoZone by 14.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock valued at $95,000 after buying an additional 4 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in shares of AutoZone by 4.1% during the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after acquiring an additional 4 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AZO. Truist Financial dropped their target price on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Citigroup decreased their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Guggenheim boosted their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research report on Tuesday. Finally, BNP Paribas upgraded AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $3,169.38.

AutoZone Trading Down 1.2 %

AutoZone stock opened at $3,029.39 on Friday. The company has a market cap of $51.75 billion, a PE ratio of 20.95, a PEG ratio of 1.43 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The company’s 50-day moving average is $3,132.67 and its two-hundred day moving average is $3,012.32.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $46.46 earnings per share. Research analysts forecast that AutoZone, Inc. will post 151.08 EPS 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.