Farmers Trust Co. Sells 28 Shares of AutoZone, Inc. (NYSE:AZO)

Farmers Trust Co. cut its position in AutoZone, Inc. (NYSE:AZO) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,492 shares of the company’s stock after selling 28 shares during the period. Farmers Trust Co.’s holdings in AutoZone were worth $4,777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AZO. International Assets Investment Management LLC increased its stake in AutoZone by 354,692.5% during the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after purchasing an additional 993,139 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in AutoZone in the 2nd quarter valued at about $424,000. The Manufacturers Life Insurance Company increased its holdings in AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares in the last quarter. Squarepoint Ops LLC increased its holdings in AutoZone by 319.0% during the 2nd quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock worth $107,375,000 after purchasing an additional 27,580 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of AutoZone in the third quarter valued at approximately $85,127,000. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Up 1.1 %

NYSE AZO traded up $35.44 during trading on Wednesday, hitting $3,295.35. The company had a trading volume of 47,655 shares, compared to its average volume of 109,579. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,416.71. The company’s fifty day moving average is $3,195.50 and its 200-day moving average is $3,118.13. The company has a market cap of $55.30 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the company posted $32.55 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that AutoZone, Inc. will post 154.29 EPS for the current year.

Analysts Set New Price Targets

AZO has been the topic of a number of analyst reports. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Evercore ISI lifted their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company upped their target price on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets started coverage on AutoZone in a report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target on the stock. Finally, Mizuho raised their target price on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $3,400.32.

Insider Transactions at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 48.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

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.