Truist Financial Corp Has $20.38 Million Holdings in AutoZone, Inc. $AZO

Truist Financial Corp cut its position in shares of AutoZone, Inc. (NYSE:AZO) by 17.3% during the third quarter, HoldingsChannel.com reports. The firm owned 4,751 shares of the company’s stock after selling 993 shares during the period. Truist Financial Corp’s holdings in AutoZone were worth $20,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Jackson Hole Trust boosted its stake in AutoZone by 122.2% during the third quarter. Bank of Jackson Hole Trust now owns 20 shares of the company’s stock worth $86,000 after buying an additional 11 shares in the last quarter. Alta Advisers Ltd raised its stake in shares of AutoZone by 22.7% in the 3rd quarter. Alta Advisers Ltd now owns 81 shares of the company’s stock valued at $348,000 after buying an additional 15 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of AutoZone by 4.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 613 shares of the company’s stock worth $2,630,000 after acquiring an additional 28 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of AutoZone by 1.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,142 shares of the company’s stock worth $13,480,000 after acquiring an additional 41 shares during the period. Finally, Sovran Advisors LLC boosted its position in shares of AutoZone by 3.6% during the 3rd quarter. Sovran Advisors LLC now owns 144 shares of the company’s stock valued at $618,000 after acquiring an additional 5 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AZO. Morgan Stanley dropped their price target on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Citigroup dropped their target price on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a report on Thursday, December 11th. JPMorgan Chase & Co. decreased their price target on AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating on the stock in a research note on Thursday, December 18th. BMO Capital Markets lowered their price target on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $4,400.00 price objective on shares of AutoZone in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,285.00.

Insider Buying and Selling

In related news, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares in the company, valued at $9,719,900. The trade was a 69.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the transaction, the director owned 3,564 shares in the company, valued at $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,703.04 on Friday. The business’s fifty day moving average is $3,576.54 and its two-hundred day moving average is $3,848.37. The firm has a market cap of $61.35 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.76 and a beta of 0.42. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $32.52 earnings per share. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.