Pinnacle Financial Partners Inc Sells 3 Shares of AutoZone, Inc. (NYSE:AZO)

Pinnacle Financial Partners Inc lowered its stake in AutoZone, Inc. (NYSE:AZO) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,247 shares of the company’s stock after selling 3 shares during the period. Pinnacle Financial Partners Inc’s holdings in AutoZone were worth $16,589,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in AutoZone by 127.0% during the third quarter. Blue Trust Inc. now owns 84 shares of the company’s stock valued at $249,000 after buying an additional 47 shares during the period. Sequoia Financial Advisors LLC lifted its position in AutoZone by 22.3% during the third quarter. Sequoia Financial Advisors LLC now owns 542 shares of the company’s stock valued at $1,707,000 after buying an additional 99 shares during the period. Eastern Bank bought a new position in AutoZone in the 3rd quarter worth about $265,000. Great Lakes Retirement Inc. boosted its stake in AutoZone by 10.1% in the 3rd quarter. Great Lakes Retirement Inc. now owns 413 shares of the company’s stock worth $1,301,000 after purchasing an additional 38 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in AutoZone by 3.0% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 626 shares of the company’s stock worth $1,972,000 after purchasing an additional 18 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO opened at $3,366.15 on Friday. The firm has a market cap of $56.49 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 1.88 and a beta of 0.70. AutoZone, Inc. has a 1 year low of $2,708.09 and a 1 year high of $3,484.42. The company has a 50 day simple moving average of $3,321.62 and a two-hundred day simple moving average of $3,206.32.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $32.55 earnings per share. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZO has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of AutoZone in a research note on Friday, December 13th. They set an “outperform” rating and a $3,700.00 target price on the stock. Barclays upped their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Mizuho upped their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. TD Cowen upped their price target on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Evercore ISI upped their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,429.84.

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.