AutoZone, Inc. $AZO Shares Sold by Truist Financial Corp

Key Points

• Truist Financial reduced its AutoZone stake by 15.7% in Q4, selling 745 shares and now holds 4,006 shares valued at $13.586 million.
• Director Earl G. Graves, Jr. sold 50 shares for about $173,936, lowering his holdings to 4,837 shares, while institutional investors own roughly 92.74% of AutoZone and insiders hold 2.60%.
• AutoZone carries a consensus "Moderate Buy" from analysts with an average price target of $4,312.13; the stock trades near $3,552 (market cap ~$58.6B) and recently reported EPS $27.63 (beat) on $4.27B revenue (slight miss).

Truist Financial Corp decreased its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,006 shares of the company's stock after selling 745 shares during the period. Truist Financial Corp's holdings in AutoZone were worth $13,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after buying an additional 14 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of AutoZone during the second quarter worth about $356,000. Guggenheim Capital LLC increased its holdings in shares of AutoZone by 3.8% in the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company's stock worth $921,000 after acquiring an additional 9 shares during the period. NewEdge Advisors LLC increased its holdings in shares of AutoZone by 8.9% in the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company's stock worth $5,110,000 after acquiring an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in AutoZone by 52.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company's stock valued at $43,667,000 after purchasing an additional 4,039 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on AZO shares. Morgan Stanley boosted their target price on shares of AutoZone from $4,000.00 to $4,020.00 and gave the company an "overweight" rating in a research note on Wednesday, March 4th. TD Cowen cut their price target on AutoZone from $4,400.00 to $4,250.00 and set a "buy" rating on the stock in a report on Monday, March 16th. Truist Financial reduced their price objective on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. The Goldman Sachs Group increased their price objective on AutoZone from $4,274.00 to $4,345.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Finally, UBS Group set a $4,800.00 target price on AutoZone in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $4,312.13.

AutoZone Trading Up 0.3%

AutoZone stock opened at $3,552.69 on Friday. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The stock has a market cap of $58.55 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.81 and a beta of 0.43. The company's 50-day moving average price is $3,530.25 and its two-hundred day moving average price is $3,617.57.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts' consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $28.29 EPS. Research analysts expect that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

AutoZone Company Profile

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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