AutoZone, Inc. (NYSE:AZO) Shares Bought by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,589 shares of the company’s stock after purchasing an additional 29 shares during the quarter. Glenmede Trust Co. NA’s holdings in AutoZone were worth $27,056,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after buying an additional 60,483 shares during the period. Peak Financial Advisors LLC bought a new stake in AutoZone during the second quarter worth approximately $2,816,000. Verde Capital Management acquired a new stake in AutoZone in the third quarter worth approximately $1,137,000. Mizuho Securities USA LLC boosted its stake in AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock valued at $29,012,000 after purchasing an additional 7,879 shares in the last quarter. Finally, Swedbank AB increased its position in shares of AutoZone by 5.6% during the 2nd quarter. Swedbank AB now owns 16,524 shares of the company’s stock valued at $48,979,000 after purchasing an additional 869 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the subject of several research analyst reports. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Redburn Atlantic raised shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Citigroup lowered their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Guggenheim boosted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Wedbush restated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3,202.71.

Insider Activity at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated 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 sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction that occurred 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 owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,880 shares of company stock valued at $46,225,660. Insiders own 2.10% of the company’s stock.

AutoZone Price Performance

NYSE:AZO opened at $3,188.94 on Thursday. The stock’s 50-day moving average is $3,115.05 and its two-hundred day moving average is $3,032.95. The stock has a market cap of $53.91 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion for 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 firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $46.46 earnings per share. On average, equities research analysts anticipate that AutoZone, Inc. will post 158.09 earnings per share for the current year.

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.