PNC Financial Services Group Inc. Buys 113 Shares of AutoZone, Inc. (NYSE:AZO)

PNC Financial Services Group Inc. lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 43,262 shares of the company’s stock after acquiring an additional 113 shares during the period. PNC Financial Services Group Inc. owned approximately 0.26% of AutoZone worth $138,525,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in AutoZone during the third quarter worth about $36,000. Darwin Wealth Management LLC purchased a new position in shares of AutoZone during the 3rd quarter valued at about $47,000. Crews Bank & Trust bought a new stake in AutoZone in the 4th quarter worth approximately $61,000. McIlrath & Eck LLC boosted its stake in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in AutoZone during the third quarter valued at approximately $66,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AZO shares. Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday. Roth Mkm boosted their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a research note on Wednesday. DA Davidson raised their price objective on AutoZone from $3,350.00 to $3,500.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays boosted their target price on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Finally, Wedbush restated an “outperform” rating and set a $3,700.00 target price on shares of AutoZone in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3,646.62.

Insider Activity at AutoZone

In other news, SVP Bailey L. Childress sold 160 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the sale, the senior vice president now directly owns 50 shares of the company’s stock, valued at $177,500. The trade was a 76.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,620.28 on Friday. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,636.96. The firm has a market capitalization of $60.76 billion, a P/E ratio of 24.19, a P/E/G ratio of 1.86 and a beta of 0.71. The stock has a 50 day moving average price of $3,365.96 and a 200-day moving average price of $3,229.85.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.