Legacy Private Trust Co. Sells 594 Shares of AutoZone, Inc. (NYSE:AZO)

Legacy Private Trust Co. lowered its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 49.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 605 shares of the company's stock after selling 594 shares during the period. Legacy Private Trust Co.'s holdings in AutoZone were worth $2,307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC increased its stake in AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after purchasing an additional 419,375 shares during the last quarter. Norges Bank bought a new stake in AutoZone during the fourth quarter valued at $834,556,000. Strategic Financial Concepts LLC acquired a new position in shares of AutoZone during the fourth quarter valued at $471,629,000. Wealthfront Advisers LLC boosted its holdings in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock valued at $290,281,000 after acquiring an additional 89,190 shares during the period. Finally, Barclays PLC boosted its holdings in shares of AutoZone by 82.6% during the fourth quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after acquiring an additional 77,015 shares during the period. Institutional investors own 92.74% of the company's stock.

AutoZone Stock Down 0.4%

Shares of AutoZone stock traded down $16.58 on Tuesday, hitting $3,733.23. The stock had a trading volume of 29,808 shares, compared to its average volume of 129,460. The stock has a market cap of $62.65 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.86 and a beta of 0.44. The stock's 50-day simple moving average is $3,700.21 and its two-hundred day simple moving average is $3,475.49. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $36.69 EPS. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AZO shares. Wells Fargo & Company set a $4,200.00 price target on shares of AutoZone and gave the company an "overweight" rating in a report on Monday, May 19th. DA Davidson lifted their price target on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. UBS Group lifted their price target on shares of AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. BMO Capital Markets reissued an "outperform" rating and set a $4,100.00 price objective (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $4,054.52.

Insider Activity at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 2,850 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the completion of the transaction, the vice president now owns 2,924 shares of the company's stock, valued at approximately $10,555,640. This trade represents a 49.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Philip B. Daniele sold 2,000 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the transaction, the chief executive officer now directly owns 163 shares of the company's stock, valued at $619,401.63. This represents a 92.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,133 shares of company stock worth $51,914,997 over the last quarter. Corporate insiders own 2.10% of the company's stock.

About AutoZone

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.