Hilltop National Bank Buys New Holdings in AutoZone, Inc. $AZO

Key Points

• Hilltop National Bank has purchased a new stake in AutoZone, Inc., acquiring 108 shares valued at approximately $401,000 during the second quarter of the year.
• Research analysts have raised their price objectives for AutoZone, with Barclays setting a target of $4,610.00, while Morgan Stanley increased theirs to $4,700.00, reflecting optimistic growth expectations.
• Despite missing earnings estimates for the last quarter, AutoZone reported a revenue of $6.24 billion, showing a slight increase compared to the previous year.

Hilltop National Bank bought a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 108 shares of the company's stock, valued at approximately $401,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC acquired a new position in AutoZone in the first quarter valued at $27,000. Saudi Central Bank acquired a new position in AutoZone in the first quarter valued at $27,000. Financial Network Wealth Advisors LLC raised its position in AutoZone by 66.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock valued at $38,000 after purchasing an additional 4 shares during the period. Cornerstone Planning Group LLC purchased a new position in AutoZone in the first quarter valued at about $44,000. Finally, Clearstead Trust LLC purchased a new position in AutoZone in the first quarter valued at about $46,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AZO shares. Barclays raised their price objective on AutoZone from $3,916.00 to $4,610.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Morgan Stanley raised their price objective on AutoZone from $4,000.00 to $4,700.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. Raymond James Financial cut their price objective on AutoZone from $4,900.00 to $4,800.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, September 24th. Citigroup cut their price objective on AutoZone from $4,900.00 to $4,775.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. Finally, UBS Group cut their price objective on AutoZone from $4,925.00 to $4,800.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4,538.21.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the transaction, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone 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 completion of the transaction, the vice president owned 2,925 shares of the company's stock, valued at $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

AutoZone Stock Performance

Shares of NYSE AZO opened at $4,219.73 on Friday. AutoZone, Inc. has a 1 year low of $2,980.10 and a 1 year high of $4,388.11. The firm has a market cap of $70.81 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 2.00 and a beta of 0.40. The stock's 50-day simple moving average is $4,126.05 and its 200-day simple moving average is $3,840.81.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the previous year, the firm posted $51.58 earnings per share. The firm's revenue was up .6% compared to the same quarter last year. As a group, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

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.

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