AutoZone, Inc. (NYSE:AZO) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its position in AutoZone, Inc. (NYSE:AZO) by 18.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 674 shares of the company’s stock after selling 149 shares during the period. OLD National Bancorp IN’s holdings in AutoZone were worth $1,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AZO. Rise Advisors LLC acquired a new stake in AutoZone during the 1st quarter worth $32,000. Riverview Trust Co purchased a new position in shares of AutoZone in the first quarter worth about $41,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of AutoZone in the fourth quarter worth about $54,000. Private Wealth Management Group LLC acquired a new position in AutoZone during the fourth quarter worth about $54,000. Finally, Quarry LP purchased a new stake in AutoZone during the 4th quarter valued at about $70,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AZO has been the topic of a number of research reports. Evercore ISI decreased their target price on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Mizuho reduced their price objective on AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Oppenheimer restated a “market perform” rating and issued a $2,600.00 target price on shares of AutoZone in a report on Wednesday, June 26th. Guggenheim raised their target price on AutoZone from $3,150.00 to $3,225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Wolfe Research lowered their price target on shares of AutoZone from $3,150.00 to $3,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $3,112.71.

Insider Buying and Selling

In related news, VP Jenna M. Bedsole purchased 36 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the purchase, the vice president now directly owns 36 shares of the company’s stock, valued at approximately $99,255.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is owned by company insiders.

AutoZone Price Performance

Shares of AZO traded down $36.77 during midday trading on Friday, reaching $3,120.25. The stock had a trading volume of 73,532 shares, compared to its average volume of 146,701. The company’s fifty day simple moving average is $2,942.94 and its two-hundred day simple moving average is $2,940.55. The company has a market cap of $53.30 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.58 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. AutoZone’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $34.12 earnings per share. On average, sell-side analysts forecast that AutoZone, Inc. will post 151.37 earnings per share for the current year.

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.