Central Pacific Bank Trust Division Has $976,000 Position in AutoZone, Inc. $AZO

Central Pacific Bank Trust Division lowered its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263 shares of the company’s stock after selling 42 shares during the quarter. Central Pacific Bank Trust Division’s holdings in AutoZone were worth $976,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Forum Financial Management LP grew its holdings in shares of AutoZone by 2.2% during the fourth quarter. Forum Financial Management LP now owns 138 shares of the company’s stock worth $443,000 after buying an additional 3 shares in the last quarter. Focus Financial Network Inc. grew its holdings in shares of AutoZone by 2.9% during the first quarter. Focus Financial Network Inc. now owns 105 shares of the company’s stock worth $400,000 after buying an additional 3 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of AutoZone by 2.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company’s stock worth $538,000 after buying an additional 3 shares in the last quarter. Rappaport Reiches Capital Management LLC grew its holdings in shares of AutoZone by 4.8% during the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company’s stock worth $252,000 after buying an additional 3 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company’s stock worth $339,000 after buying an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays increased their price objective on AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a report on Thursday. BMO Capital Markets reiterated an “outperform” rating and set a $4,100.00 price objective (up from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a research note on Friday, May 23rd. Bank of America upgraded AutoZone from a “neutral” rating to a “buy” rating and raised their price target for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Finally, Guggenheim raised their price target on AutoZone from $3,850.00 to $4,100.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $4,229.38.

AutoZone Trading Down 0.6%

Shares of NYSE AZO opened at $4,327.37 on Friday. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,388.11. The stock has a 50 day moving average of $3,989.84 and a 200-day moving average of $3,776.14. The company has a market capitalization of $72.62 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.30 and a beta of 0.41.

Insider Activity at AutoZone

In related news, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares of the company’s stock, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

About AutoZone

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.