Trust Co. of Vermont Invests $1.56 Million in AutoZone, Inc. $AZO

Key Points

• Trust Co. of Vermont acquired 489 AutoZone shares during the second quarter, representing a new position valued at approximately $1.56 million. Institutional investors collectively own 92.74% of the company.
• AutoZone reported quarterly EPS of $38.07, exceeding estimates by $1.85, while revenue rose 8.4% year over year to $4.84 billion. The board also authorized a $1.5 billion share-repurchase program.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $4,029.43, despite some recent target-price reductions.

Trust Co. of Vermont acquired a new position in AutoZone, Inc. (NYSE:AZO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 489 shares of the company's stock, valued at approximately $1,563,000.

Several other large investors have also added to or reduced their stakes in the business. Turning Point Benefit Group Inc. bought a new stake in AutoZone during the 3rd quarter worth about $25,000. Torren Management LLC acquired a new position in shares of AutoZone during the 4th quarter worth about $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock valued at $28,000 after acquiring an additional 4 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after acquiring an additional 3 shares in the last quarter. Finally, Bard Associates Inc. bought a new position in shares of AutoZone in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Stock Performance

Shares of AZO opened at $3,077.21 on Wednesday. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11. The firm has a market cap of $50.25 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.54 and a beta of 0.33. The firm's 50-day simple moving average is $3,061.14 and its 200 day simple moving average is $3,344.23.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $35.36 EPS. As a group, equities analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its Board of Directors has authorized a stock repurchase program on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AZO shares. Guggenheim dropped their target price on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 27th. Truist Financial set a $3,700.00 price target on AutoZone in a research report on Wednesday, May 27th. Evercore reiterated an "outperform" rating on shares of AutoZone in a research note on Tuesday, May 26th. Finally, Mizuho cut their price objective on AutoZone from $3,600.00 to $3,200.00 and set a "neutral" rating for the company in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $4,029.43.

Insider Activity at AutoZone

In other news, VP Dennis W. Leriche sold 1,455 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president owned 441 shares in the company, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Hannasch purchased 165 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares in the company, valued at $3,641,153. The trade was a 15.65% increase in their position. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by corporate insiders.

AutoZone Profile

AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

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