Zurcher Kantonalbank Zurich Cantonalbank Sells 1,934 Shares of AutoZone, Inc. $AZO

Key Points

• Zurcher Kantonalbank cut its stake in AutoZone by 31.4%, selling 1,934 shares and leaving it with 4,227 shares valued at about $14.34 million.
• VP Richard Craig Smith sold 5,910 shares at roughly $3,700 each for about $21.87 million, reducing his ownership by 69.23%; overall insiders now own about 2.6% of the company.
• Analysts hold a consensus "Moderate Buy" on AutoZone with a $4,312.13 target; the company recently reported EPS of $27.63 (beat by $0.04) and revenue of $4.27 billion (slightly below estimates).

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 31.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,227 shares of the company's stock after selling 1,934 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in AutoZone were worth $14,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Obermeyer Wealth Partners lifted its stake in AutoZone by 4.7% in the third quarter. Obermeyer Wealth Partners now owns 67 shares of the company's stock valued at $287,000 after buying an additional 3 shares in the last quarter. Covestor Ltd lifted its stake in AutoZone by 5.5% in the third quarter. Covestor Ltd now owns 58 shares of the company's stock valued at $250,000 after buying an additional 3 shares in the last quarter. SYM FINANCIAL Corp lifted its stake in AutoZone by 3.6% in the third quarter. SYM FINANCIAL Corp now owns 86 shares of the company's stock valued at $369,000 after buying an additional 3 shares in the last quarter. Camden National Bank lifted its stake in AutoZone by 3.6% in the third quarter. Camden National Bank now owns 86 shares of the company's stock valued at $369,000 after buying an additional 3 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its stake in AutoZone by 1.7% in the third quarter. Crestwood Advisors Group LLC now owns 184 shares of the company's stock valued at $791,000 after buying an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial cut their price target on shares of AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. UBS Group set a $4,800.00 price target on shares of AutoZone in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of AutoZone in a research note on Monday, December 29th. Roth Mkm cut their price target on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Finally, Robert W. Baird lowered shares of AutoZone from an "outperform" rating to a "neutral" rating and set a $3,900.00 price target on the stock. in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $4,312.13.

Insider Buying and Selling

In other news, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Earl G. Graves, Jr. sold 50 shares of the business's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by company insiders.

AutoZone Stock Down 0.4%

NYSE AZO opened at $3,590.60 on Thursday. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The company has a market capitalization of $59.17 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.85 and a beta of 0.41. The firm's 50 day moving average is $3,568.38 and its 200-day moving average is $3,650.69.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the company earned $28.29 earnings per share. The firm's revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone, Inc. will post 148.93 EPS for the current year.

AutoZone Company 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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