AutoZone, Inc. (NYSE:AZO) Shares Acquired by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 711 shares of the company’s stock after purchasing an additional 8 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in AutoZone were worth $2,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZO. Flagship Wealth Advisors LLC purchased a new position in shares of AutoZone in the 4th quarter valued at $32,000. Harbour Investments Inc. grew its holdings in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of AutoZone in the 4th quarter valued at about $61,000. McIlrath & Eck LLC boosted its position in shares of AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after purchasing an additional 4 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AZO shares. Wedbush reiterated an “outperform” rating and issued a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, March 5th. TD Cowen upped their price target on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Truist Financial raised their price objective on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Citigroup upped their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price target on AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,683.36.

AutoZone Trading Up 0.5 %

Shares of AutoZone stock opened at $3,675.49 on Wednesday. The company has a 50-day moving average of $3,450.75 and a two-hundred day moving average of $3,267.24. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,704.43. The stock has a market cap of $61.68 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 2,850 shares of AutoZone stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total transaction of $10,288,500.00. Following the completion of the transaction, the vice president now directly owns 2,924 shares in the company, valued at $10,555,640. The trade was a 49.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bailey L. Childress sold 160 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the sale, the senior vice president now owns 50 shares in the company, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,721 shares of company stock valued at $17,009,311 in the last 90 days. 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.