AutoZone, Inc. $AZO Position Boosted by Grove Bank & Trust

Key Points

• Grove Bank & Trust increased its AutoZone position by 2,643.2% in the third quarter, bringing its holdings to 1,207 shares valued at $3.42 million. Hedge funds and other institutional investors own 92.74% of the company.
• AutoZone shares rose 2.3% to $2,910.62, while the company reported quarterly revenue of $6.59 billion, up 5.6% year over year but below estimates. Its board has also authorized a $1.5 billion share-repurchase program.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and a $3,669.12 price target, although several firms have reduced earnings estimates for fiscal 2027 and 2028.

Grove Bank & Trust lifted its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 2,643.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,207 shares of the company's stock after purchasing an additional 1,163 shares during the quarter. Grove Bank & Trust's holdings in AutoZone were worth $3,416,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AZO. Edmond DE Rothschild Holding S.A. acquired a new position in AutoZone during the second quarter valued at approximately $29,000. Bard Associates Inc. purchased a new position in shares of AutoZone in the 4th quarter valued at $31,000. Burkett Financial Services LLC acquired a new position in shares of AutoZone during the 3rd quarter valued at $31,000. Tacita Capital Inc purchased a new stake in AutoZone during the 2nd quarter worth $32,000. Finally, Asset Dedication LLC boosted its position in AutoZone by 150.0% during the 1st quarter. Asset Dedication LLC now owns 10 shares of the company's stock worth $34,000 after purchasing an additional 6 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insiders Place Their Bets

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the sale, the vice president owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

AutoZone Trading Up 2.3%

AZO stock traded up $64.35 during trading on Thursday, reaching $2,910.62. The stock had a trading volume of 172,435 shares, compared to its average volume of 264,784. The firm has a fifty day moving average price of $2,947.19 and a 200 day moving average price of $3,146.50. The company has a market capitalization of $47.53 billion, a P/E ratio of 19.05, a PEG ratio of 1.34 and a beta of 0.40. AutoZone, Inc. has a 1-year low of $2,730.65 and a 1-year high of $4,146.42.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%.The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same period last year, the firm earned $48.71 earnings per share. The company's revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that AutoZone, Inc. will post 172.12 EPS for the current year.

AutoZone announced that its board has authorized a share repurchase program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on AZO shares. Piper Sandler set a $3,500.00 price objective on AutoZone in a research report on Monday, August 31st. Wells Fargo & Company decreased their target price on AutoZone from $4,150.00 to $3,500.00 and set an "overweight" rating for the company in a research report on Thursday, September 10th. Evercore reiterated an "outperform" rating on shares of AutoZone in a research note on Wednesday, September 23rd. Mizuho dropped their target price on AutoZone from $3,200.00 to $3,000.00 and set a "neutral" rating on the stock in a report on Wednesday, September 23rd. Finally, UBS Group set a $3,850.00 price target on AutoZone in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3,669.12.

Key Stories Impacting AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Bernstein upgraded AutoZone to “Strong Buy.” The firm’s average price target is approximately $3,669, implying meaningful potential upside from recent trading levels and providing the clearest positive catalyst for the shares. Bernstein upgrades AutoZone stock to Strong Buy
• Neutral Sentiment: Zacks Research introduced a fiscal 2029 EPS forecast of $220.60. Zacks also raised its Q3 2028 estimate to $46.56, suggesting analysts still expect long-term earnings growth despite weaker near- and medium-term projections.
• Negative Sentiment: Zacks reduced earnings estimates across several periods. Forecasts were cut for Q1 2027 to $34.65 from $37.78, Q2 2027 to $31.45 from $32.61, Q3 2027 to $41.91 from $42.64, and Q4 2027 to $58.15 from $61.70. The FY2027 estimate fell to $166.16 from $174.73.
• Negative Sentiment: Longer-term fiscal 2028 estimates were also lowered. Zacks reduced Q1 2028 EPS to $41.39 from $43.62, Q2 2028 to $39.11 from $40.45, Q4 2028 to $63.01 from $67.59, and FY2028 to $190.08 from $197.32. These revisions point to more cautious expectations for AutoZone’s earnings trajectory.
• Neutral Sentiment: The latest Zacks commentary keeps the focus on upcoming earnings. The current full-year consensus EPS estimate remains $172.12, while investors may weigh the bullish valuation outlook against the downward revisions to future quarterly results. Zacks Research Comments on AutoZone's Q2 Earnings

AutoZone Profile

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.

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