Huntington National Bank Buys 18 Shares of AutoZone, Inc. (NYSE:AZO)

Huntington National Bank grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 519 shares of the company’s stock after purchasing an additional 18 shares during the period. Huntington National Bank’s holdings in AutoZone were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Peak Financial Advisors LLC bought a new position in AutoZone in the second quarter worth approximately $2,816,000. Verde Capital Management bought a new position in shares of AutoZone in the 3rd quarter worth $1,137,000. Swedbank AB grew its position in AutoZone by 5.6% in the 2nd quarter. Swedbank AB now owns 16,524 shares of the company’s stock valued at $48,979,000 after purchasing an additional 869 shares during the period. BDF Gestion bought a new stake in AutoZone during the 2nd quarter valued at $3,044,000. Finally, National Bank of Canada FI raised its holdings in AutoZone by 7.3% during the first quarter. National Bank of Canada FI now owns 9,930 shares of the company’s stock worth $29,566,000 after buying an additional 679 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

AZO stock opened at $3,107.53 on Friday. The stock has a fifty day moving average of $3,112.53 and a 200-day moving average of $3,023.33. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The company has a market capitalization of $52.52 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.60 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. AutoZone’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $46.46 EPS. Equities analysts predict that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Buying and Selling at AutoZone

In related news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction that occurred on 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 approximately $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the 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 transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Guggenheim boosted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Truist Financial boosted their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Roth Capital upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, UBS Group raised their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $3,202.71.

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.