Bangor Savings Bank Takes $145,000 Position in AutoZone, Inc. (NYSE:AZO)

Bangor Savings Bank purchased a new position in AutoZone, Inc. (NYSE:AZO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 46 shares of the company’s stock, valued at approximately $145,000.

A number of other large investors also recently added to or reduced their stakes in AZO. Rise Advisors LLC acquired a new position in shares of AutoZone during the 1st quarter worth about $32,000. Riverview Trust Co purchased a new stake in AutoZone during the 1st quarter worth approximately $41,000. Meeder Asset Management Inc. raised its holdings in shares of AutoZone by 50.0% during the second 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 last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of AutoZone in the second quarter valued at approximately $50,000. Finally, ORG Partners LLC acquired a new stake in shares of AutoZone in the second quarter worth approximately $50,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

AutoZone stock opened at $3,101.85 on Wednesday. The firm has a 50 day moving average price of $3,132.17 and a 200 day moving average price of $3,008.97. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The company has a market capitalization of $52.99 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 1.43 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. AutoZone’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $46.46 EPS. As a group, equities research analysts forecast that AutoZone, Inc. will post 151.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AZO shares. Morgan Stanley increased their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Wedbush reiterated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a research report on Thursday, September 19th. Mizuho boosted their price target 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. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $3,169.38.

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.