Chevy Chase Trust Holdings LLC Sells 286 Shares of AutoZone, Inc. (NYSE:AZO)

Chevy Chase Trust Holdings LLC reduced its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,780 shares of the company's stock after selling 286 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of AutoZone worth $37,289,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. YHB Investment Advisors Inc. lifted its position in AutoZone by 3.7% in the 1st quarter. YHB Investment Advisors Inc. now owns 784 shares of the company's stock valued at $2,989,000 after acquiring an additional 28 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in AutoZone in the 1st quarter valued at $103,000. Asset Management One Co. Ltd. lifted its position in AutoZone by 5.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 6,864 shares of the company's stock valued at $26,171,000 after acquiring an additional 373 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in AutoZone by 14.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,091 shares of the company's stock valued at $11,785,000 after acquiring an additional 389 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new stake in AutoZone in the 1st quarter valued at $202,000. 92.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction, the senior vice president now owns 406 shares of the company's stock, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Domingo Hurtado sold 4,800 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the transaction, the vice president now directly owns 159 shares in the company, valued at $581,940. The trade was a 96.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,662 shares of company stock valued at $131,999,089 over the last 90 days. 2.10% of the stock is currently owned by insiders.

AutoZone Price Performance

NYSE AZO traded up $84.57 during trading on Friday, reaching $3,606.82. 367,755 shares of the company's stock were exchanged, compared to its average volume of 130,307. The business has a 50 day moving average price of $3,694.76 and a 200-day moving average price of $3,533.48. The stock has a market capitalization of $60.52 billion, a P/E ratio of 24.41, a PEG ratio of 2.16 and a beta of 0.40. AutoZone, Inc. has a fifty-two week low of $2,801.49 and a fifty-two week high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share 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%. AutoZone's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $36.69 EPS. On average, analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an "overweight" rating in a research report on Monday, May 19th. Morgan Stanley reissued an "overweight" rating and set a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Wedbush restated an "outperform" rating and set a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, March 5th. Finally, Argus downgraded shares of AutoZone from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Two 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $4,072.24.

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.