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

OLD National Bancorp IN decreased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 913 shares of the company’s stock after selling 55 shares during the quarter. OLD National Bancorp IN’s holdings in AutoZone were worth $2,361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AZO. Rock Creek Group LP bought a new position in shares of AutoZone during the third quarter worth $25,000. ORG Partners LLC purchased a new stake in AutoZone during the third quarter valued at $43,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in AutoZone during the third quarter valued at $51,000. Turtle Creek Wealth Advisors LLC purchased a new stake in AutoZone during the fourth quarter valued at $54,000. Finally, Steward Financial Group LLC raised its stake in AutoZone by 66.7% during the third quarter. Steward Financial Group LLC now owns 25 shares of the company’s stock valued at $63,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other AutoZone news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the transaction, the vice president now directly owns 2,921 shares in the company, valued at approximately $8,756,456.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Philip B. Daniele sold 4,190 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $3,161.68, for a total value of $13,247,439.20. Following the sale, the chief executive officer now directly owns 900 shares in the company, valued at approximately $2,845,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the completion of the sale, the vice president now owns 2,921 shares in the company, valued at $8,756,456.96. The disclosure for this sale can be found here. Insiders have sold a total of 15,990 shares of company stock worth $50,335,193 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AZO. Mizuho began coverage on shares of AutoZone in a research note on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 price target on the stock. Morgan Stanley upped their price target on shares of AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Barclays upped their price target on shares of AutoZone from $2,779.00 to $3,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Wedbush increased their target price on shares of AutoZone from $2,950.00 to $3,400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, Truist Financial increased their target price on shares of AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,086.61.

AutoZone Trading Down 0.7 %

NYSE AZO opened at $2,963.27 on Tuesday. The company’s 50-day moving average price is $3,010.24 and its 200-day moving average price is $2,764.30. The stock has a market cap of $51.32 billion, a PE ratio of 20.87, a PEG ratio of 1.48 and a beta of 0.70. AutoZone, Inc. has a 12 month low of $2,277.88 and a 12 month high of $3,256.37.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the prior year, the business earned $24.64 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.4 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.