Fulton Bank N.A. Sells 4 Shares of AutoZone, Inc. (NYSE:AZO)

Fulton Bank N.A. trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 250 shares of the company’s stock after selling 4 shares during the period. Fulton Bank N.A.’s holdings in AutoZone were worth $788,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Rise Advisors LLC bought a new position in AutoZone during the first quarter worth about $32,000. Riverview Trust Co acquired a new stake in AutoZone in the 1st quarter valued at $41,000. Meeder Asset Management Inc. grew its position in AutoZone by 50.0% in 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 period. E Fund Management Hong Kong Co. Ltd. acquired a new position in AutoZone during the second quarter worth $50,000. Finally, ORG Partners LLC acquired a new position in AutoZone during the second quarter worth $50,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,101.85 on Wednesday. The company’s 50 day simple moving average is $3,132.17 and its 200 day simple moving average is $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 firm has a market capitalization of $52.99 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.43 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its quarterly earnings results 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). 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 quarter in the prior year, the business earned $46.46 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 151.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AZO shares. UBS Group increased their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 price objective on shares of AutoZone in a report on Wednesday, June 26th. Evercore ISI lifted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Mizuho raised their price target on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, Morgan Stanley lifted their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Three equities research 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 stock. According to data from MarketBeat, AutoZone currently has an average rating of “Buy” and an average target price of $3,169.38.

Insiders Place Their Bets

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

AutoZone Company 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.