AutoZone, Inc. $AZO Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 833 shares of the company’s stock after purchasing an additional 38 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in AutoZone were worth $3,092,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZO. Wealthcare Advisory Partners LLC grew its position in AutoZone by 2.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company’s stock valued at $538,000 after acquiring an additional 3 shares during the period. Focus Financial Network Inc. grew its position in AutoZone by 2.9% during the first quarter. Focus Financial Network Inc. now owns 105 shares of the company’s stock valued at $400,000 after acquiring an additional 3 shares during the period. Blue Trust Inc. grew its position in AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company’s stock valued at $339,000 after acquiring an additional 3 shares during the period. Rappaport Reiches Capital Management LLC grew its position in AutoZone by 4.8% during the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company’s stock valued at $252,000 after acquiring an additional 3 shares during the period. Finally, Tradewinds Capital Management LLC lifted its stake in shares of AutoZone by 30.0% during the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company’s stock worth $50,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Performance

NYSE:AZO opened at $4,219.73 on Friday. AutoZone, Inc. has a one year low of $2,980.10 and a one year high of $4,388.11. The business’s 50-day simple moving average is $4,126.05 and its 200 day simple moving average is $3,840.81. The stock has a market cap of $70.81 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 2.00 and a beta of 0.40.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The company’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $51.58 EPS. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of recent research reports. DA Davidson restated a “buy” rating and set a $4,850.00 price objective on shares of AutoZone in a research note on Wednesday, September 24th. Zacks Research cut AutoZone from a “hold” rating to a “strong sell” rating in a research note on Friday, September 26th. UBS Group reduced their price objective on AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Wells Fargo & Company reduced their price objective on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 24th. Finally, BMO Capital Markets boosted their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the stock an “outperform” rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4,538.21.

Insider Activity

In related news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the sale, the vice president directly owned 1,244 shares of the company’s stock, valued at $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. This represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by 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.