AutoZone, Inc. (NYSE:AZO) Shares Bought by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 711 shares of the company’s stock after acquiring an additional 8 shares during the period. Penobscot Investment Management Company Inc.’s holdings in AutoZone were worth $2,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZO. Cerity Partners LLC grew its holdings in AutoZone by 21.9% in the 3rd quarter. Cerity Partners LLC now owns 3,292 shares of the company’s stock valued at $10,371,000 after buying an additional 592 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of AutoZone by 5.5% in the third quarter. Kingsview Wealth Management LLC now owns 154 shares of the company’s stock worth $484,000 after acquiring an additional 8 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in AutoZone by 45.1% in the third quarter. Summit Trail Advisors LLC now owns 148 shares of the company’s stock valued at $465,000 after purchasing an additional 46 shares during the period. Daiwa Securities Group Inc. increased its position in AutoZone by 12.7% during the third quarter. Daiwa Securities Group Inc. now owns 2,147 shares of the company’s stock worth $6,763,000 after purchasing an additional 242 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in AutoZone during the third quarter worth approximately $712,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.5 %

AZO stock opened at $3,675.49 on Wednesday. The stock’s 50 day moving average is $3,450.75 and its two-hundred day moving average is $3,267.24. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43. The company has a market capitalization of $61.68 billion, a PE ratio of 24.56, a P/E/G ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Activity

In other news, VP Richard Craig Smith sold 2,850 shares of AutoZone stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the transaction, the vice president now owns 2,924 shares in the company, valued at approximately $10,555,640. This trade represents a 49.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the sale, the senior vice president now directly owns 50 shares in the company, valued at approximately $177,500. This represents a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,721 shares of company stock worth $17,009,311. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI upped their price objective on AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Citigroup upped their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Mizuho lifted their price objective on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Wells Fargo & Company increased their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, BMO Capital Markets lifted their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3,683.36.

AutoZone Company Profile

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.