Truist Financial Corp Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Truist Financial Corp lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,379 shares of the company’s stock after selling 516 shares during the quarter. Truist Financial Corp’s holdings in AutoZone were worth $12,980,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Brandes Investment Partners LP lifted its position in AutoZone by 18.3% during the second quarter. Brandes Investment Partners LP now owns 17,174 shares of the company’s stock worth $50,897,000 after buying an additional 2,660 shares during the period. Regal Investment Advisors LLC grew its holdings in AutoZone by 39.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 248 shares of the company’s stock valued at $735,000 after buying an additional 70 shares during the period. Wallace Advisory Group LLC acquired a new position in shares of AutoZone during the 2nd quarter valued at about $270,000. William B. Walkup & Associates Inc. purchased a new position in shares of AutoZone during the 2nd quarter worth about $18,493,000. Finally, Sunbelt Securities Inc. boosted its position in shares of AutoZone by 34.2% in the second quarter. Sunbelt Securities Inc. now owns 106 shares of the company’s stock worth $314,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. DA Davidson reiterated a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a report on Monday, September 30th. Guggenheim lifted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Citigroup decreased their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. UBS Group raised their target price on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $3,169.38.

AutoZone Stock Performance

NYSE AZO opened at $3,029.39 on Friday. The firm has a market capitalization of $51.75 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The company has a 50-day simple moving average of $3,132.67 and a 200-day simple moving average of $3,012.32.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share 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 for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the previous year, the company posted $46.46 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts forecast that AutoZone, Inc. will post 151.08 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is currently 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.