Grove Bank & Trust Boosts Position in AutoZone, Inc. $AZO

Grove Bank & Trust grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 2,643.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,207 shares of the company’s stock after acquiring an additional 1,163 shares during the period. Grove Bank & Trust’s holdings in AutoZone were worth $3,416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Benchmark Investment Advisors LLC acquired a new position in AutoZone in the second quarter worth about $713,000. CYBER HORNET ETFs LLC increased its holdings in AutoZone by 33,193.5% in the second quarter. CYBER HORNET ETFs LLC now owns 15,315 shares of the company’s stock valued at $48,946,000 after buying an additional 15,269 shares during the last quarter. Nykredit A S acquired a new stake in AutoZone during the second quarter valued at approximately $27,287,000. Bank of America Corp DE acquired a new stake in AutoZone during the second quarter valued at approximately $233,576,000. Finally, BlackRock Inc. bought a new position in AutoZone during the 2nd quarter worth approximately $3,938,566,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 2.3%

Shares of NYSE:AZO traded up $64.35 during trading on Thursday, hitting $2,910.62. 172,435 shares of the company traded hands, compared to its average volume of 264,784. The business’s fifty day moving average is $2,947.19 and its 200-day moving average is $3,146.50. The stock has a market capitalization of $47.53 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.34 and a beta of 0.40. AutoZone, Inc. has a one year low of $2,730.65 and a one year high of $4,146.42.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%.The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter last year, the business posted $48.71 EPS. The business’s revenue was up 5.6% on a year-over-year basis. On average, analysts forecast that AutoZone, Inc. will post 172.12 EPS for the current year.

AutoZone declared that its board has approved a stock repurchase program on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the sale, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by corporate insiders.

Key Headlines Impacting AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Bernstein upgraded AutoZone to “Strong Buy.” The firm’s average price target is approximately $3,669, implying meaningful potential upside from recent trading levels and providing the clearest positive catalyst for the shares. Bernstein upgrades AutoZone stock to Strong Buy
• Neutral Sentiment: Zacks Research introduced a fiscal 2029 EPS forecast of $220.60. Zacks also raised its Q3 2028 estimate to $46.56, suggesting analysts still expect long-term earnings growth despite weaker near- and medium-term projections.
• Negative Sentiment: Zacks reduced earnings estimates across several periods. Forecasts were cut for Q1 2027 to $34.65 from $37.78, Q2 2027 to $31.45 from $32.61, Q3 2027 to $41.91 from $42.64, and Q4 2027 to $58.15 from $61.70. The FY2027 estimate fell to $166.16 from $174.73.
• Negative Sentiment: Longer-term fiscal 2028 estimates were also lowered. Zacks reduced Q1 2028 EPS to $41.39 from $43.62, Q2 2028 to $39.11 from $40.45, Q4 2028 to $63.01 from $67.59, and FY2028 to $190.08 from $197.32. These revisions point to more cautious expectations for AutoZone’s earnings trajectory.
• Neutral Sentiment: The latest Zacks commentary keeps the focus on upcoming earnings. The current full-year consensus EPS estimate remains $172.12, while investors may weigh the bullish valuation outlook against the downward revisions to future quarterly results. Zacks Research Comments on AutoZone’s Q2 Earnings

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AZO. Barclays decreased their target price on AutoZone from $3,637.00 to $3,400.00 and set an “overweight” rating for the company in a research report on Wednesday, September 23rd. Robert W. Baird reduced their price objective on AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 23rd. Guggenheim decreased their price objective on shares of AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. BMO Capital Markets lowered their target price on shares of AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating for the company in a research note on Wednesday, September 23rd. Finally, Oppenheimer set a $3,400.00 target price on shares of AutoZone in a report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $3,669.12.

AutoZone Profile

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.