UMB Bank n.a. Grows Stake in AutoZone, Inc. (NYSE:AZO)

UMB Bank n.a. lifted its stake in AutoZone, Inc. (NYSE:AZO) by 17.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33 shares of the company’s stock after purchasing an additional 5 shares during the quarter. UMB Bank n.a.’s holdings in AutoZone were worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. PineStone Asset Management Inc. increased its position in shares of AutoZone by 137.6% during the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after acquiring an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of AutoZone during the second quarter valued at $424,000. Captrust Financial Advisors boosted its position in shares of AutoZone by 564.2% during the first quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after buying an additional 129,193 shares during the last quarter. Baillie Gifford & Co. increased its holdings in AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock worth $356,267,000 after buying an additional 115,924 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in AutoZone by 106.7% in the 1st quarter. Bessemer Group Inc. now owns 117,891 shares of the company’s stock worth $371,552,000 after buying an additional 60,852 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AZO shares. Truist Financial decreased their price objective on shares of AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Mizuho increased their price target on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Guggenheim lifted their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Evercore ISI boosted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $3,182.33.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,129.78 on Monday. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The business has a fifty day moving average price of $3,130.48 and a 200 day moving average price of $3,006.79. The stock has a market capitalization of $53.47 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the previous year, the company posted $46.46 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts anticipate that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 in the last ninety days. Corporate insiders own 2.50% 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.