OLD National Bancorp IN Sells 55 Shares of AutoZone, Inc. (NYSE:AZO)

OLD National Bancorp IN lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 606 shares of the company’s stock after selling 55 shares during the quarter. OLD National Bancorp IN’s holdings in AutoZone were worth $1,940,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AZO. Capital Performance Advisors LLP bought a new stake in AutoZone during the third quarter worth $36,000. Carolina Wealth Advisors LLC bought a new stake in AutoZone during the third quarter worth $47,000. Darwin Wealth Management LLC purchased a new position in AutoZone in the third quarter worth $47,000. McIlrath & Eck LLC boosted its position in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in AutoZone in the third quarter worth $66,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,355.54 on Friday. The stock has a fifty day moving average of $3,252.46 and a 200 day moving average of $3,160.68. AutoZone, Inc. has a one year low of $2,672.31 and a one year high of $3,437.63. The stock has a market cap of $56.31 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.84 and a beta of 0.71.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on AZO shares. Mizuho boosted their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Argus boosted their price objective on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Evercore ISI upped their price target on AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial upped their price target 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. Finally, Roth Mkm reaffirmed a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.