Greenleaf Trust Decreases Holdings in AutoZone, Inc. (NYSE:AZO)

Greenleaf Trust cut its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 668 shares of the company's stock after selling 142 shares during the quarter. Greenleaf Trust's holdings in AutoZone were worth $2,547,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AZO. Headlands Technologies LLC purchased a new stake in AutoZone during the fourth quarter worth about $29,000. Flagship Wealth Advisors LLC bought a new position in shares of AutoZone during the 4th quarter valued at approximately $32,000. Harbour Investments Inc. grew its position in shares of AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after acquiring an additional 3 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in shares of AutoZone during the 4th quarter worth approximately $45,000. Finally, Tradewinds Capital Management LLC raised its holdings in shares of AutoZone by 30.0% in the 1st quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Down 0.7%

NYSE:AZO traded down $26.32 during trading hours on Friday, hitting $3,702.16. 105,635 shares of the company's stock traded hands, compared to its average volume of 130,764. AutoZone, Inc. has a 52 week low of $2,894.02 and a 52 week high of $3,916.81. The business's fifty day simple moving average is $3,704.16 and its two-hundred day simple moving average is $3,561.04. The firm has a market cap of $62.12 billion, a P/E ratio of 25.06, a P/E/G ratio of 2.22 and a beta of 0.39.

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). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The business had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.41 billion. During the same period in the previous year, the business earned $36.69 EPS. The business's revenue was up 5.4% on a year-over-year basis. On average, analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analysts Forecast Growth

AZO has been the subject of several research reports. UBS Group increased their price objective on AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the stock an "overweight" rating in a report on Monday, May 19th. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a research note on Friday, May 23rd. Finally, Mizuho increased their target price on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $4,087.00.

Insider Activity at AutoZone

In related news, VP Domingo Hurtado sold 4,800 shares of the company's stock in a transaction 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 directly owned 159 shares in the company, valued at approximately $581,940. The trade was a 96.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the sale, the chief financial officer owned 427 shares in the company, valued at $1,591,877.35. The trade was a 85.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,662 shares of company stock valued at $131,999,089. Company insiders own 2.10% of the company's stock.

AutoZone 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.