Fiduciary Trust Co Boosts Position in AutoZone, Inc. (NYSE:AZO)

Fiduciary Trust Co increased its holdings in AutoZone, Inc. (NYSE:AZO) by 101.9% in the third quarter, HoldingsChannel.com reports. The fund owned 523 shares of the company’s stock after acquiring an additional 264 shares during the period. Fiduciary Trust Co’s holdings in AutoZone were worth $1,647,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of AutoZone during the 3rd quarter valued at about $36,000. Meeder Asset Management Inc. lifted its holdings in AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares during the period. Carolina Wealth Advisors LLC bought a new stake in AutoZone during the 3rd quarter valued at approximately $47,000. Darwin Wealth Management LLC bought a new stake in AutoZone during the 3rd quarter valued at approximately $47,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of AutoZone during the 2nd quarter worth approximately $50,000. Institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by company insiders.

AutoZone Trading Down 0.4 %

Shares of AZO opened at $3,176.81 on Friday. The firm has a fifty day simple moving average of $3,121.25 and a two-hundred day simple moving average of $3,035.70. The firm has a market cap of $53.69 billion, a PE ratio of 21.22, a P/E/G ratio of 1.61 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,510.00 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $46.46 EPS. As a group, research analysts forecast that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AZO has been the topic of several research reports. Guggenheim lifted their price target on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Citigroup dropped their target price on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Morgan Stanley increased their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone 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.