Hancock Whitney Corp Cuts Holdings in AutoZone, Inc. $AZO

Key Points

• Hancock Whitney Corp reduced its stake in AutoZone, Inc. by 17.4%, selling 204 shares and holding 966 shares valued at approximately $3.68 million as of the latest SEC filing.
• A number of analysts have upgraded AutoZone's stock, with target prices ranging from $3,995 to $4,850, reflecting a generally positive sentiment with a consensus Buy rating.
• Company insiders sold a total of 31,250 shares worth over $116 million in the past 90 days, indicating significant market activity among leadership.

Hancock Whitney Corp cut its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 17.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 966 shares of the company's stock after selling 204 shares during the period. Hancock Whitney Corp's holdings in AutoZone were worth $3,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in AutoZone by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company's stock valued at $6,709,967,000 after purchasing an additional 13,643 shares in the last quarter. JPMorgan Chase & Co. grew its stake in AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock worth $3,570,296,000 after buying an additional 65,368 shares during the last quarter. GAMMA Investing LLC grew its stake in AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock worth $2,936,535,000 after buying an additional 770,005 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in AutoZone by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company's stock worth $1,331,870,000 after buying an additional 24,701 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in AutoZone by 14.6% during the 4th quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock worth $655,840,000 after buying an additional 26,036 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction dated Friday, June 20th. The shares were 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 trade represents a 64.88% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

AutoZone Stock Performance

NYSE AZO traded down $41.61 during trading on Wednesday, reaching $4,249.51. 31,592 shares of the company's stock were exchanged, compared to its average volume of 128,032. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,304.94. The stock has a market cap of $71.32 billion, a P/E ratio of 28.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.41. The company has a 50 day moving average price of $3,951.67 and a two-hundred day moving average price of $3,757.21.

Wall Street Analyst Weigh In

Several analysts have weighed in on AZO shares. JPMorgan Chase & Co. boosted their price target on AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Wells Fargo & Company set a $4,200.00 price target on AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. Morgan Stanley reaffirmed an "overweight" rating and issued a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $4,100.00 price target (up previously from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, AutoZone presently has a consensus rating of "Buy" and a consensus price target of $4,148.90.

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.