Legacy Private Trust Co. Has $3.84 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Legacy Private Trust Co. lessened its stake in AutoZone, Inc. (NYSE:AZO) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,199 shares of the company’s stock after selling 9 shares during the quarter. Legacy Private Trust Co.’s holdings in AutoZone were worth $3,839,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after acquiring an additional 993,139 shares during the last quarter. Geode Capital Management LLC lifted its position in AutoZone by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock valued at $1,326,545,000 after purchasing an additional 7,365 shares during the period. Marshfield Associates boosted its stake in shares of AutoZone by 0.5% in the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company’s stock valued at $534,204,000 after purchasing an additional 796 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of AutoZone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 150,698 shares of the company’s stock valued at $446,684,000 after purchasing an additional 3,382 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone during the 2nd quarter worth approximately $424,000. 92.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AZO. Wells Fargo & Company raised their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. DA Davidson restated a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a research report on Monday, September 30th. Mizuho upped their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. TD Cowen raised their target price on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average target price of $3,400.32.

AutoZone Price Performance

NYSE:AZO traded up $42.08 during trading hours on Wednesday, reaching $3,301.99. 80,027 shares of the stock were exchanged, compared to its average volume of 116,843. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,416.71. The stock has a market cap of $55.41 billion, a PE ratio of 22.06, a PEG ratio of 1.73 and a beta of 0.71. The firm has a 50 day moving average of $3,195.50 and a 200 day moving average of $3,118.13.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (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 analyst estimates of $4.30 billion. During the same quarter in the previous year, the firm posted $32.55 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that AutoZone, Inc. will post 154.29 earnings per share for the current year.

Insider Activity at AutoZone

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

AutoZone 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.