Diversified Trust Co Cuts Position in AutoZone, Inc. (NYSE:AZO)

Diversified Trust Co lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 13.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,047 shares of the company’s stock after selling 782 shares during the period. Diversified Trust Co’s holdings in AutoZone were worth $16,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in shares of AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after buying an additional 993,139 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in AutoZone in the 2nd quarter valued at about $424,000. The Manufacturers Life Insurance Company increased its holdings in AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after acquiring an additional 60,483 shares in the last quarter. Squarepoint Ops LLC raised its position in AutoZone by 319.0% during the second quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock worth $107,375,000 after acquiring an additional 27,580 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of AutoZone in the third quarter valued at about $85,127,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AZO has been the subject of a number of recent research reports. TD Cowen raised their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Morgan Stanley raised their price target on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Truist Financial upped their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Guggenheim upped their target price on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3,400.32.

AutoZone Stock Performance

Shares of AZO traded down $1.46 during trading hours on Tuesday, hitting $3,292.00. The stock had a trading volume of 28,011 shares, compared to its average volume of 106,352. The company’s fifty day simple moving average is $3,191.61 and its 200 day simple moving average is $3,116.27. AutoZone, Inc. has a 12-month low of $2,510.00 and a 12-month high of $3,416.71. The firm has a market cap of $55.25 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $32.55 earnings per share. As a group, sell-side analysts predict that AutoZone, Inc. will post 154.29 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This trade represents a 48.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

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.