American National Bank & Trust Trims Stake in AutoZone, Inc. $AZO

Key Points

• American National Bank & Trust trimmed its stake in AutoZone by 27.7% in Q4, now holding 2,822 shares valued at about $9.57 million.
• AutoZone VP Richard Craig Smith sold 5,910 shares on Jan. 23 at an average of $3,700 for roughly $21.87 million, reducing his ownership by 69.23%; insiders now own 2.60% of the company.
• Wall Street consensus is a Moderate Buy with an average price target of $4,312.13; AutoZone beat EPS estimates with $27.63 but reported slightly below‑expectation revenue of $4.27 billion for the quarter.

American National Bank & Trust reduced its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 27.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,822 shares of the company's stock after selling 1,079 shares during the quarter. American National Bank & Trust's holdings in AutoZone were worth $9,571,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Raleigh Capital Management Inc. acquired a new position in shares of AutoZone during the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. purchased a new stake in AutoZone during the third quarter valued at about $25,000. Global Trust Asset Management LLC increased its stake in AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock worth $30,000 after acquiring an additional 6 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in AutoZone during the third quarter worth about $34,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of AutoZone in the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Transactions at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 5,910 shares of the firm's stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AZO shares. Truist Financial decreased their target price on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Evercore lifted their price target on shares of AutoZone from $4,100.00 to $4,125.00 and gave the company an "outperform" rating in a research report on Friday, February 27th. Citigroup boosted their price objective on shares of AutoZone from $4,200.00 to $4,300.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Raymond James Financial dropped their price objective on shares of AutoZone from $4,800.00 to $4,600.00 and set a "strong-buy" rating for the company in a research report on Wednesday, December 10th. Finally, Argus raised shares of AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 target price on the stock in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, AutoZone currently has a consensus rating of "Moderate Buy" and an average price target of $4,312.13.

AutoZone Stock Down 0.1%

NYSE:AZO opened at $3,398.84 on Friday. The company has a market cap of $56.01 billion, a PE ratio of 23.81, a P/E/G ratio of 1.74 and a beta of 0.41. The business's 50 day moving average is $3,618.87 and its two-hundred day moving average is $3,715.88. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts' consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $28.29 earnings per share. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

About AutoZone

AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

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