Chevy Chase Trust Holdings LLC Sells 314 Shares of AutoZone, Inc. $AZO

Chevy Chase Trust Holdings LLC reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,489 shares of the company’s stock after selling 314 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in AutoZone were worth $40,710,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AZO. Brighton Jones LLC boosted its stake in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares during the period. Sivia Capital Partners LLC bought a new position in AutoZone in the 2nd quarter worth about $356,000. AE Wealth Management LLC increased its stake in AutoZone by 7.2% in the 2nd quarter. AE Wealth Management LLC now owns 74 shares of the company’s stock worth $276,000 after acquiring an additional 5 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of AutoZone in the 2nd quarter valued at about $245,000. Finally, Allworth Financial LP raised its holdings in shares of AutoZone by 81.6% in the 2nd quarter. Allworth Financial LP now owns 178 shares of the company’s stock valued at $661,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Insider Activity

In other news, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president directly owned 2,627 shares in the company, valued at approximately $9,719,900. The trade was a 69.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Hannasch acquired 147 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was acquired at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the purchase, the director directly owned 962 shares in the company, valued at $3,264,152.58. This represents a 18.04% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 9,447 shares of company stock valued at $34,179,923. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AZO shares. UBS Group set a $4,800.00 price objective on AutoZone in a report on Tuesday, March 3rd. JPMorgan Chase & Co. raised their target price on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Roth Mkm dropped their target price on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Citigroup boosted their price target on shares of AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Guggenheim decreased their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4,318.38.

AutoZone Trading Down 1.6%

Shares of AutoZone stock opened at $3,557.90 on Monday. The firm has a market capitalization of $58.95 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.82 and a beta of 0.41. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The business’s 50-day moving average price is $3,649.70 and its 200-day moving average price is $3,799.52.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $28.29 EPS. As a group, analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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.