Farmers & Merchants Investments Inc. Sells 10 Shares of AutoZone, Inc. (NYSE:AZO)

Farmers & Merchants Investments Inc. reduced its holdings in AutoZone, Inc. (NYSE:AZO) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,421 shares of the company’s stock after selling 10 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in AutoZone were worth $4,478,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of AutoZone in the 1st quarter worth about $32,000. Riverview Trust Co purchased a new position in shares of AutoZone in the 1st quarter worth about $41,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of AutoZone in the 4th quarter worth about $54,000. Private Wealth Management Group LLC purchased a new position in shares of AutoZone in the 4th quarter worth about $54,000. Finally, Quarry LP purchased a new position in shares of AutoZone in the 4th quarter worth about $70,000. 92.74% of the stock is currently owned by institutional investors.

Insider Transactions at AutoZone

In other news, VP Jenna M. Bedsole bought 36 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the transaction, the vice president now owns 36 shares of the company’s stock, valued at $99,255.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AZO. Wolfe Research cut their price objective on AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 22nd. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Citigroup dropped their target price on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. UBS Group dropped their target price on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Morgan Stanley dropped their target price on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $3,112.71.

AutoZone Price Performance

AZO opened at $2,867.32 on Wednesday. The business has a 50 day simple moving average of $2,891.70 and a two-hundred day simple moving average of $2,866.94. The firm has a market capitalization of $48.97 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.49 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company earned $34.12 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that AutoZone, Inc. will post 151.57 EPS for the current fiscal year.

About AutoZone

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.