AutoZone, Inc. $AZO Stock: Boston Trust Walden Corp Reduces Position

Key Points

• Boston Trust Walden Corp cut its AutoZone stake by 7% in the third quarter, selling 1,152 shares; it retained 15,328 shares valued at about $43.4 million.
• Institutional investors own 92.74% of AutoZone. Other large investors reported both new positions and increased stakes, while a company vice president sold 1,455 shares.
• AutoZone’s quarterly revenue rose 5.6% year over year to $6.59 billion, below the $6.70 billion consensus estimate. Analysts’ average rating was “Moderate Buy,” with a consensus price target of $3,674.36.

Boston Trust Walden Corp trimmed its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,328 shares of the company's stock after selling 1,152 shares during the period. Boston Trust Walden Corp owned about 0.10% of AutoZone worth $43,379,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AZO. Benchmark Investment Advisors LLC bought a new position in shares of AutoZone during the 2nd quarter valued at approximately $713,000. CYBER HORNET ETFs LLC boosted its stake in shares of AutoZone by 33,193.5% in the second quarter. CYBER HORNET ETFs LLC now owns 15,315 shares of the company's stock worth $48,946,000 after acquiring an additional 15,269 shares during the period. Nykredit A S purchased a new position in shares of AutoZone in the second quarter worth $27,287,000. Bank of America Corp DE bought a new position in shares of AutoZone during the 2nd quarter valued at about $233,576,000. Finally, Engineers Gate Manager LP boosted its stake in AutoZone by 923.1% during the second quarter. Engineers Gate Manager LP now owns 1,238 shares of the company's stock valued at $3,957,000 after buying an additional 1,117 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Dennis LeRiche sold 1,455 shares of the business's stock in a transaction dated 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 sale, the vice president owned 441 shares in the company, valued at approximately $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company's stock.

AutoZone Stock Up 4.0%

Shares of AZO opened at $3,327.64 on Thursday. The company has a market cap of $53.54 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.65 and a beta of 0.37. AutoZone, Inc. has a twelve month low of $2,730.65 and a twelve month high of $3,996.25. The company has a 50 day moving average of $2,980.58 and a two-hundred day moving average of $3,257.98.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period in the prior year, the firm posted $48.71 earnings per share. The business's quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that AutoZone, Inc. will post 170.30 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AZO shares. Evercore reissued an "outperform" rating on shares of AutoZone in a research report on Wednesday, September 23rd. Wells Fargo & Company lowered their price objective on shares of AutoZone from $4,150.00 to $3,500.00 and set an "overweight" rating for the company in a research note on Thursday, September 10th. TD Cowen reissued a "buy" rating on shares of AutoZone in a research report on Monday, October 26th. Sanford C. Bernstein started coverage on shares of AutoZone in a research report on Tuesday, September 29th. They issued an "outperform" rating and a $3,698.00 price target for the company. Finally, Piper Sandler set a $3,500.00 price objective on shares of AutoZone in a report on Monday, August 31st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, AutoZone has an average rating of "Moderate Buy" and a consensus target price of $3,674.36.

About AutoZone

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.