M&T Bank Corp Sells 131 Shares of AutoZone, Inc. (NYSE:AZO)

M&T Bank Corp reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,837 shares of the company’s stock after selling 131 shares during the quarter. M&T Bank Corp’s holdings in AutoZone were worth $4,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in AutoZone by 32.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,454 shares of the company’s stock worth $6,234,000 after acquiring an additional 595 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of AutoZone by 0.8% during the 3rd quarter. Brown Advisory Inc. now owns 1,004 shares of the company’s stock worth $2,550,000 after purchasing an additional 8 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of AutoZone by 16.1% during the 3rd quarter. Lindbrook Capital LLC now owns 108 shares of the company’s stock worth $274,000 after purchasing an additional 15 shares in the last quarter. IFM Investors Pty Ltd raised its stake in shares of AutoZone by 4.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 3,977 shares of the company’s stock worth $10,102,000 after purchasing an additional 177 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its stake in AutoZone by 2.1% in the 3rd quarter. Waldron Private Wealth LLC now owns 345 shares of the company’s stock valued at $876,000 after acquiring an additional 7 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the transaction, the chairman now owns 15,357 shares of the company’s stock, valued at approximately $48,992,208.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $2,997.76, for a total transaction of $8,993,280.00. Following the sale, the vice president now owns 2,921 shares in the company, valued at $8,756,456.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William C. Rhodes III sold 6,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The disclosure for this sale can be found here. Insiders have sold a total of 15,990 shares of company stock valued at $50,335,193 over the last quarter. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley increased their target price on AutoZone from $2,900.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. DA Davidson boosted their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. boosted their price objective on AutoZone from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Evercore ISI cut their price objective on AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $3,086.61.

AutoZone Price Performance

Shares of AZO opened at $2,967.70 on Tuesday. AutoZone, Inc. has a 1-year low of $2,277.88 and a 1-year high of $3,256.37. The stock has a market cap of $51.40 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72. The firm has a fifty day moving average price of $3,055.88 and a 200 day moving average price of $2,791.59.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share for the quarter, topping the consensus estimate of $26.08 by $2.81. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $24.64 earnings per share. As a group, equities analysts expect that AutoZone, Inc. will post 152.4 EPS for the current fiscal year.

AutoZone 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.