AutoZone, Inc. $AZO Shares Sold by Legacy Private Trust Co.

Legacy Private Trust Co. trimmed its position in shares of AutoZone, Inc. (NYSE:AZO) by 11.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 533 shares of the company’s stock after selling 72 shares during the quarter. Legacy Private Trust Co.’s holdings in AutoZone were worth $1,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in AutoZone by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company’s stock valued at $6,709,967,000 after acquiring an additional 13,643 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of AutoZone by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock worth $3,570,296,000 after buying an additional 65,368 shares during the period. GAMMA Investing LLC lifted its stake in shares of AutoZone by 435,031.1% in the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company’s stock valued at $2,936,535,000 after purchasing an additional 770,005 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in AutoZone by 7.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company’s stock worth $1,331,870,000 after buying an additional 24,701 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of AutoZone by 4.3% during the 1st quarter. Alliancebernstein L.P. now owns 158,487 shares of the company’s stock valued at $604,276,000 after buying an additional 6,549 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on AZO shares. Roth Capital set a $4,135.00 price target on AutoZone and gave the stock a “buy” rating in a research note on Monday, June 2nd. UBS Group raised their target price on AutoZone from $4,260.00 to $4,925.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of AutoZone from $3,830.00 to $4,350.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Finally, Mizuho boosted their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the stock an “outperform” rating in a report on Thursday, July 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $4,229.38.

AutoZone Stock Performance

Shares of AZO opened at $4,327.37 on Monday. The company has a 50-day simple moving average of $3,989.84 and a 200-day simple moving average of $3,778.43. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,388.11. The firm has a market capitalization of $72.61 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.28 and a beta of 0.41.

Insider Activity

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

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.