Caldwell Trust Co Takes Position in AutoZone, Inc. $AZO

Caldwell Trust Co acquired a new position in AutoZone, Inc. (NYSE:AZO) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 470 shares of the company’s stock, valued at approximately $1,745,000.

Several other large investors also recently added to or reduced their stakes in AZO. Saudi Central Bank purchased a new position in AutoZone during the 1st quarter valued at about $27,000. Aspect Partners LLC grew its holdings in shares of AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after acquiring an additional 7 shares in the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of AutoZone in the second quarter worth $33,000. NewSquare Capital LLC increased its stake in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after acquiring an additional 3 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of AutoZone during the second quarter worth $33,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AutoZone news, SVP K. Michelle Borninkhof sold 300 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the completion of the sale, the senior vice president directly owned 416 shares in the company, valued at $1,570,400. This represents a 41.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jamere Jackson acquired 55 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average price of $3,413.50 per share, for a total transaction of $187,742.50. Following the completion of the purchase, the chief financial officer directly owned 488 shares of the company’s stock, valued at $1,665,788. This trade represents a 12.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 5,693 shares of company stock valued at $23,259,891 over the last three months. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird began coverage on AutoZone in a research note on Wednesday, December 3rd. They issued an “outperform” rating and a $4,500.00 target price on the stock. UBS Group lowered their price target on AutoZone from $4,800.00 to $4,325.00 and set a “buy” rating for the company in a research note on Wednesday. TD Cowen increased their price objective on AutoZone from $4,300.00 to $4,900.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Guggenheim reduced their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Gabelli reissued a “buy” rating on shares of AutoZone in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $4,365.35.

AutoZone Stock Performance

AZO opened at $3,440.41 on Monday. The firm has a market cap of $57.21 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The business has a 50 day moving average price of $3,838.77 and a 200 day moving average price of $3,895.99. AutoZone, Inc. has a twelve month low of $3,162.00 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm posted $32.52 earnings per share. AutoZone’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its board has authorized a stock buyback plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

About AutoZone

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.