Bank of New York Mellon Corp Sells 1,862 Shares of AutoZone, Inc. $AZO

Bank of New York Mellon Corp decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,409 shares of the company’s stock after selling 1,862 shares during the period. Bank of New York Mellon Corp’s holdings in AutoZone were worth $374,451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. raised its position in AutoZone by 6.6% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock valued at $21,315,000 after purchasing an additional 306 shares during the last quarter. Numerai GP LLC raised its position in AutoZone by 1,199.3% during the 3rd quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after purchasing an additional 1,619 shares during the last quarter. Caprock Group LLC bought a new position in AutoZone during the 3rd quarter valued at approximately $4,049,000. Savant Capital LLC raised its position in AutoZone by 21.3% during the 3rd quarter. Savant Capital LLC now owns 1,015 shares of the company’s stock valued at $4,355,000 after purchasing an additional 178 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its position in AutoZone by 185.7% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 640 shares of the company’s stock valued at $2,746,000 after purchasing an additional 416 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

AZO stock opened at $3,082.70 on Friday. The company has a market capitalization of $50.80 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 1.56 and a beta of 0.35. The business’s 50 day moving average price is $3,399.22 and its two-hundred day moving average price is $3,543.31. AutoZone, Inc. has a fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 77.83% and a net margin of 12.40%.The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $35.36 EPS. Sell-side analysts forecast that AutoZone, Inc. will post 150.18 earnings per share for the current year.

Analysts Set New Price Targets

AZO has been the topic of a number of research analyst reports. BNP Paribas Exane reduced their target price on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Evercore reiterated an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. Citigroup reduced their target price on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Roth Mkm reduced their target price on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Finally, TD Cowen reiterated a “buy” rating and set a $3,700.00 target price on shares of AutoZone in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $4,040.87.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.60% of the company’s stock.

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.