Legacy Private Trust Co. Decreases Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Legacy Private Trust Co. reduced its stake in AutoZone, Inc. by 11.9% in Q2, holding 533 shares valued at approximately $1.98 million after the sale.
• Total institutional ownership of AutoZone stands at 92.74%, with several other firms adjusting their stakes, including significant increases from Banco Santander and Hudson Valley Investment Advisors.
• Analysts have recently set new price targets for AutoZone, with notable upgrades from firms such as Evercore ISI and Bank of America, raising projections to as high as $4,900.

Legacy Private Trust Co. lowered its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 11.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 533 shares of the company's stock after selling 72 shares during the quarter. Legacy Private Trust Co.'s holdings in AutoZone were worth $1,979,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. raised its holdings in AutoZone by 3.5% in the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after purchasing an additional 3 shares during the period. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of AutoZone by 10.1% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after purchasing an additional 271 shares in the last quarter. Kirr Marbach & Co. LLC IN raised its position in shares of AutoZone by 0.9% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock valued at $29,591,000 after purchasing an additional 68 shares during the period. Banco Santander S.A. lifted its stake in shares of AutoZone by 98.3% during the 1st quarter. Banco Santander S.A. now owns 829 shares of the company's stock valued at $3,161,000 after buying an additional 411 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in AutoZone in the 1st quarter worth $545,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Trading Down 0.6%

Shares of AZO stock opened at $4,327.37 on Monday. The stock has a 50 day moving average of $3,989.84 and a 200 day moving average of $3,778.43. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,388.11. The stock has a market cap of $72.61 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.28 and a beta of 0.41.

Analysts Set New Price Targets

AZO has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on AutoZone from $4,060.00 to $4,250.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and lifted their target price for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the company an "overweight" rating in a report on Monday, May 19th. Citigroup boosted their price target on shares of AutoZone from $3,900.00 to $4,900.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Finally, Mizuho lifted their target price on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. 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 MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $4,229.38.

Insider Activity at AutoZone

In other news, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

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.

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