Trustmark Bank Trust Department Invests $267,000 in AutoZone, Inc. $AZO

Trustmark Bank Trust Department purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 72 shares of the company’s stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AlphaCore Capital LLC bought a new position in shares of AutoZone in the first quarter worth $27,000. Saudi Central Bank bought a new stake in AutoZone during the first quarter worth about $27,000. Aspect Partners LLC lifted its position in AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the period. Bank of Jackson Hole Trust acquired a new stake in AutoZone during the second quarter worth about $33,000. Finally, NewSquare Capital LLC increased its holdings in AutoZone by 50.0% in the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after buying an additional 3 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AutoZone news, CEO Philip B. Daniele sold 2,533 shares of the stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the sale, the chief executive officer owned 55 shares of the company’s stock, valued at approximately $221,148.40. This represents a 97.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 5,693 shares of company stock valued at $23,259,891. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,962.85 on Monday. The firm has a 50 day moving average price of $3,941.82 and a two-hundred day moving average price of $3,904.66. The stock has a market cap of $65.91 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a 52-week low of $3,162.00 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $51.58 earnings per share. Analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its board has authorized a stock buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of AutoZone from $4,900.00 to $4,775.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Barclays boosted their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Morgan Stanley raised their target price on AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Roth Capital reiterated a “buy” rating and issued a $4,750.00 price target (down previously from $4,800.00) on shares of AutoZone in a research note on Thursday, September 25th. Finally, Truist Financial lowered their price target on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4,547.56.

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.