AutoZone, Inc. $AZO Position Cut by American National Bank & Trust

American National Bank & Trust trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 11.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,393 shares of the company’s stock after selling 300 shares during the quarter. American National Bank & Trust’s holdings in AutoZone were worth $6,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MCF Advisors LLC lifted its stake 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 purchasing an additional 3 shares during the period. Pure Financial Advisors LLC grew its stake in shares of AutoZone by 2.4% in the 4th quarter. Pure Financial Advisors LLC now owns 127 shares of the company’s stock worth $430,000 after buying an additional 3 shares during the last quarter. IVC Wealth Advisors LLC grew its position in AutoZone by 2.9% in the 1st quarter. IVC Wealth Advisors LLC now owns 107 shares of the company’s stock worth $361,000 after purchasing an additional 3 shares during the period. Petredis Investment Advisors LLC boosted its stake in shares of AutoZone by 0.4% in the 1st quarter. Petredis Investment Advisors LLC now owns 762 shares of the company’s stock worth $2,574,000 after buying an additional 3 shares during the last quarter. Finally, KFG Wealth Management LLC increased its position in AutoZone by 2.2% during the first quarter. KFG Wealth Management LLC now owns 142 shares of the company’s stock valued at $480,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Dennis LeRiche sold 1,455 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. The trade was a 76.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AZO. Piper Sandler set a $3,500.00 price objective on shares of AutoZone in a research note on Monday, August 31st. Oppenheimer set a $3,400.00 target price on AutoZone in a research report on Wednesday, September 23rd. Robert W. Baird decreased their price objective on AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 23rd. Guggenheim reduced their price objective on shares of AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Finally, Roth Capital cut their price target on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,669.12.

AutoZone Price Performance

Shares of NYSE:AZO traded down $20.88 during trading hours on Wednesday, hitting $2,877.69. 42,429 shares of the company’s stock traded hands, compared to its average volume of 264,800. AutoZone, Inc. has a 1 year low of $2,730.65 and a 1 year high of $4,146.42. The business has a fifty day moving average price of $2,955.17 and a 200-day moving average price of $3,152.61. The firm has a market capitalization of $46.99 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.40.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%.The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the company posted $48.71 EPS. AutoZone’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that AutoZone, Inc. will post 172.12 earnings per share for the current year.

AutoZone announced that its board has authorized a stock buyback plan on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Key AutoZone News

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Bernstein upgraded AutoZone to “Strong Buy,” signaling increased confidence in the company’s earnings outlook and valuation. Bernstein upgrades AutoZone stock to Strong Buy
• Positive Sentiment: Analysts’ average price target is $3,669.12, materially above the referenced share price near $2,885, implying substantial potential upside if the target is achieved. AutoZone Stock Has Average Price Target of $3,669.12
• Neutral Sentiment: Zacks Research raised its Q3 fiscal 2028 EPS estimate to $46.56 from $45.66 and projected fiscal 2029 EPS of $220.60, indicating longer-term earnings growth potential. Zacks Research Comments on AutoZone’s Q2 Earnings
• Negative Sentiment: Zacks cut estimates for Q2 fiscal 2027 EPS to $31.45 from $32.61, Q3 fiscal 2027 EPS to $41.91 from $42.64, and Q2 fiscal 2028 EPS to $39.11 from $40.45. It also reduced fiscal 2028 EPS to $190.08 from $197.32. These revisions suggest near- and medium-term profit expectations are softening, despite the company’s $172.12 current-year consensus EPS estimate. AutoZone analyst estimate revisions

About AutoZone

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.