Northwest Bancshares Inc. Has $5.64 Million Holdings in AutoZone, Inc. (NYSE:AZO)

Northwest Bancshares Inc. lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 15.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,791 shares of the company’s stock after selling 334 shares during the quarter. Northwest Bancshares Inc.’s holdings in AutoZone were worth $5,642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AZO. Edgestream Partners L.P. grew its position in shares of AutoZone by 12.2% in the first quarter. Edgestream Partners L.P. now owns 212 shares of the company’s stock valued at $668,000 after purchasing an additional 23 shares during the last quarter. Lake Street Advisors Group LLC grew its position in shares of AutoZone by 31.8% in the first quarter. Lake Street Advisors Group LLC now owns 257 shares of the company’s stock valued at $810,000 after purchasing an additional 62 shares during the last quarter. National Bank of Canada FI grew its position in shares of AutoZone by 7.3% in the first quarter. National Bank of Canada FI now owns 9,930 shares of the company’s stock valued at $29,566,000 after purchasing an additional 679 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of AutoZone in the first quarter valued at approximately $236,000. Finally, Mattern Capital Management LLC acquired a new position in shares of AutoZone in the first quarter valued at approximately $271,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Down 1.9 %

NYSE AZO opened at $3,106.91 on Wednesday. The company has a market capitalization of $52.51 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.57 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,256.37. The stock has a fifty day simple moving average of $3,113.44 and a 200 day simple moving average of $3,027.64.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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 company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $46.46 earnings per share. Research analysts expect that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on 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 completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This 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 at this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 over the last three months. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Guggenheim upped their target price 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. Roth Mkm reiterated a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a research note on Wednesday, October 16th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Mizuho boosted their price target on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Finally, Citigroup cut their price target on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus price target 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.