Vestcor Inc Sells 145 Shares of AutoZone, Inc. $AZO

Vestcor Inc decreased its position in AutoZone, Inc. (NYSE:AZO) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,268 shares of the company’s stock after selling 145 shares during the quarter. Vestcor Inc’s holdings in AutoZone were worth $9,730,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Raleigh Capital Management Inc. acquired a new position in AutoZone in the 3rd quarter valued at $26,000. Global Trust Asset Management LLC grew its position in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of AutoZone in the third quarter worth about $34,000. Loomis Sayles & Co. L P acquired a new position in shares of AutoZone during the 2nd quarter worth about $33,000. Finally, AlphaCore Capital LLC boosted its stake in AutoZone by 42.9% during the 2nd quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock valued at $37,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Performance

Shares of AZO stock opened at $3,682.67 on Tuesday. The firm has a fifty day moving average of $3,627.17 and a 200-day moving average of $3,813.72. The stock has a market cap of $61.02 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 1.86 and a beta of 0.41. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $28.29 EPS. On average, sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Activity

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the sale, the director directly owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. George acquired 145 shares of the stock in a transaction dated Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director owned 566 shares in the company, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AZO. BNP Paribas Exane cut their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Citigroup upped their target price on shares of AutoZone from $4,200.00 to $4,300.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. UBS Group set a $4,800.00 price target on shares of AutoZone in a research report on Tuesday, March 3rd. Wells Fargo & Company cut their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Finally, Wolfe Research downgraded AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4,312.13.

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.