Trust Co. of Vermont Purchases New Holdings in AutoZone, Inc. $AZO

Trust Co. of Vermont purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 489 shares of the company’s stock, valued at approximately $1,563,000.

A number of other hedge funds have also recently added to or reduced their stakes in AZO. Turning Point Benefit Group Inc. acquired a new position in AutoZone in the 3rd quarter valued at $25,000. Torren Management LLC acquired a new stake in shares of AutoZone during the 4th quarter worth $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after purchasing an additional 4 shares in the last quarter. MCF Advisors LLC increased its position in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after purchasing an additional 3 shares during the period. Finally, Bard Associates Inc. bought a new position in shares of AutoZone in the fourth quarter worth $31,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 1.9%

NYSE AZO opened at $3,077.21 on Wednesday. The company has a market cap of $50.25 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.54 and a beta of 0.33. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11. The business’s fifty day moving average is $3,061.14 and its 200 day moving average is $3,344.23.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the prior year, the firm earned $35.36 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts anticipate that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has approved a share buyback plan on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at AutoZone

In other news, Director Brian Hannasch purchased 165 shares of the stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dennis W. Leriche sold 1,455 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AZO shares. Roth Capital cut their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group decreased their target price on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Robert W. Baird dropped their target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Citigroup dropped their target price on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, Mizuho reduced their price target on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,029.43.

AutoZone Profile

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.