Chevy Chase Trust Holdings LLC Trims Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Chevy Chase Trust Holdings LLC reduced its stake in AutoZone, Inc. (NYSE:AZO) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,337 shares of the company’s stock after selling 448 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of AutoZone worth $30,640,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Summit Trail Advisors LLC lifted its holdings in AutoZone by 3.8% during the 4th quarter. Summit Trail Advisors LLC now owns 110 shares of the company’s stock worth $283,000 after buying an additional 4 shares during the last quarter. Guardian Capital LP increased its position in AutoZone by 1.3% in the 4th quarter. Guardian Capital LP now owns 301 shares of the company’s stock valued at $778,000 after acquiring an additional 4 shares during the period. Quent Capital LLC increased its position in AutoZone by 4.8% in the 1st quarter. Quent Capital LLC now owns 88 shares of the company’s stock valued at $277,000 after acquiring an additional 4 shares during the period. Mather Group LLC. increased its position in AutoZone by 1.8% in the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after acquiring an additional 4 shares during the period. Finally, Hohimer Wealth Management LLC increased its position in AutoZone by 1.4% in the 4th quarter. Hohimer Wealth Management LLC now owns 366 shares of the company’s stock valued at $946,000 after acquiring an additional 5 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AZO. UBS Group reduced their price objective on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Truist Financial reduced their price target on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a research report on Wednesday, July 10th. Citigroup reduced their price target on AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Finally, Morgan Stanley reduced their price target on AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $3,112.71.

Insider Buying and Selling

In other news, VP Jenna M. Bedsole bought 36 shares of the stock in a transaction on Thursday, May 23rd. The shares were acquired at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the purchase, the vice president now directly owns 36 shares of the company’s stock, valued at approximately $99,255.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by insiders.

AutoZone Stock Up 0.7 %

AZO stock traded up $21.17 during trading on Wednesday, reaching $3,207.98. The stock had a trading volume of 26,160 shares, compared to its average volume of 144,280. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The company’s 50 day moving average is $2,997.95 and its two-hundred day moving average is $2,962.09. The company has a market capitalization of $54.80 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.58 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $34.12 EPS. As a group, research analysts predict that AutoZone, Inc. will post 151.37 earnings per share for the current fiscal year.

AutoZone Profile

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.