Ledyard National Bank Reduces Holdings in AutoZone, Inc. (NYSE:AZO)

Ledyard National Bank trimmed its position in shares of AutoZone, Inc. (NYSE:AZO) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190 shares of the company’s stock after selling 11 shares during the quarter. Ledyard National Bank’s holdings in AutoZone were worth $206,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coastal Investment Advisors Inc. purchased a new stake in shares of AutoZone during the second quarter worth approximately $26,000. Virtus ETF Advisers LLC purchased a new stake in shares of AutoZone during the second quarter worth approximately $27,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of AutoZone during the second quarter worth approximately $31,000. First Financial Corp IN purchased a new stake in shares of AutoZone during the third quarter worth approximately $38,000. Finally, Bay Harbor Wealth Management LLC purchased a new stake in shares of AutoZone during the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 94.49% of the company’s stock.

In other news, Director Earl G. Graves, Jr. sold 500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,077.04, for a total value of $538,520.00. Following the transaction, the director now owns 4,607 shares of the company’s stock, valued at approximately $4,961,923.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Several analysts recently commented on the company. Goldman Sachs Group assumed coverage on AutoZone in a research report on Thursday, July 11th. They set a “neutral” rating and a $1,183.00 price target for the company. Wells Fargo & Co set a $1,275.00 target price on AutoZone and gave the company a “buy” rating in a report on Tuesday, September 24th. CIBC upgraded AutoZone from a “market perform” rating to an “outperform” rating in a report on Friday, June 28th. ValuEngine cut AutoZone from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley upped their target price on AutoZone from $1,050.00 to $1,100.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,136.00.

Shares of NYSE:AZO opened at $1,123.78 on Friday. The business has a fifty day moving average of $1,109.35 and a two-hundred day moving average of $1,088.58. The stock has a market cap of $26.82 billion, a P/E ratio of 17.72, a PEG ratio of 1.37 and a beta of 0.63. AutoZone, Inc. has a 52-week low of $728.75 and a 52-week high of $1,186.60.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 24th. The company reported $22.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $21.80 by $0.79. AutoZone had a negative return on equity of 98.67% and a net margin of 13.63%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the prior year, the business earned $18.54 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts predict that AutoZone, Inc. will post 65.39 EPS for the current year.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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