AutoZone, Inc. (NYSE:AZO) Stock Holdings Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,021 shares of the company's stock after selling 1,627 shares during the quarter. Bank of New York Mellon Corp owned about 0.73% of AutoZone worth $465,237,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. lifted its position in AutoZone by 19.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,607 shares of the company's stock valued at $6,127,000 after buying an additional 260 shares during the last quarter. IFM Investors Pty Ltd lifted its position in AutoZone by 10.2% in the first quarter. IFM Investors Pty Ltd now owns 3,660 shares of the company's stock valued at $13,955,000 after buying an additional 340 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in AutoZone by 16.2% in the first quarter. OneDigital Investment Advisors LLC now owns 129 shares of the company's stock valued at $492,000 after buying an additional 18 shares during the last quarter. D.A. Davidson & CO. lifted its position in AutoZone by 15.7% in the first quarter. D.A. Davidson & CO. now owns 1,281 shares of the company's stock valued at $4,884,000 after buying an additional 174 shares during the last quarter. Finally, Smart Money Group LLC lifted its position in AutoZone by 17.4% in the first quarter. Smart Money Group LLC now owns 276 shares of the company's stock valued at $1,052,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Trading Down 1.8%

Shares of NYSE AZO traded down $69.59 on Tuesday, reaching $3,721.05. 42,756 shares of the company traded hands, compared to its average volume of 129,984. AutoZone, Inc. has a fifty-two week low of $2,802.79 and a fifty-two week high of $3,916.81. The company has a 50 day moving average of $3,705.07 and a 200 day moving average of $3,552.20. The stock has a market capitalization of $62.44 billion, a PE ratio of 25.18, a P/E/G ratio of 2.25 and a beta of 0.39.

AutoZone (NYSE:AZO - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $36.69 EPS. As a group, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the transaction, the senior vice president owned 406 shares in the company, valued at $1,460,434.78. This represents a 64.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the transaction, the chairman owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. This trade represents a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,662 shares of company stock worth $131,999,089 in the last 90 days. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on AZO. Roth Capital set a $4,135.00 target price on shares of AutoZone and gave the company a "buy" rating in a research report on Monday, June 2nd. Guggenheim increased their price target on shares of AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company set a $4,200.00 price target on shares of AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Truist Financial set a $3,995.00 price target on shares of AutoZone in a research report on Friday, May 23rd. Finally, DA Davidson increased their price target on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $4,087.00.

AutoZone Company Profile

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.