Farmers Trust Co. Purchases 9 Shares of AutoZone, Inc. (NYSE:AZO)

Farmers Trust Co. raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,520 shares of the company’s stock after acquiring an additional 9 shares during the quarter. Farmers Trust Co.’s holdings in AutoZone were worth $4,788,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in shares of AutoZone during the 1st quarter valued at about $32,000. Riverview Trust Co bought a new stake in shares of AutoZone in the 1st quarter valued at $41,000. Meeder Asset Management Inc. lifted its position in shares of AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in AutoZone during the second quarter worth $50,000. Finally, ORG Partners LLC acquired a new stake in AutoZone in the second quarter worth $50,000. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

NYSE AZO opened at $3,066.92 on Friday. The stock has a market capitalization of $52.39 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 1.43 and a beta of 0.71. The business’s fifty day moving average is $3,134.02 and its 200-day moving average is $3,012.86. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the business earned $46.46 earnings per share. AutoZone’s revenue was up 9.0% on a year-over-year basis. Research analysts expect that AutoZone, Inc. will post 151.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AZO. Mizuho increased their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. UBS Group raised their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Truist Financial cut their target price on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Citigroup lowered their price objective on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, DA Davidson reiterated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a report on Monday. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $3,169.38.

Insider Activity

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by company insiders.

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.