Bank of Hawaii Cuts Stake in AutoZone, Inc. (NYSE:AZO)

Bank of Hawaii lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250 shares of the company’s stock after selling 4 shares during the quarter. Bank of Hawaii’s holdings in AutoZone were worth $800,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of AutoZone by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after acquiring an additional 6,898 shares during the period. Assenagon Asset Management S.A. raised its holdings in AutoZone by 29.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after acquiring an additional 7,922 shares in the last quarter. Silverleafe Capital Partners LLC raised its holdings in shares of AutoZone by 1.0% during the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after purchasing an additional 26 shares during the period. Pensionfund Sabic grew its position in AutoZone by 51.3% in the 4th quarter. Pensionfund Sabic now owns 590 shares of the company’s stock valued at $1,889,000 after buying an additional 200 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new position in shares of AutoZone during the 4th quarter valued at about $228,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE AZO opened at $3,559.48 on Thursday. The company’s 50 day simple moving average is $3,548.93 and its 200 day simple moving average is $3,318.05. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,916.81. The company has a market capitalization of $59.74 billion, a P/E ratio of 23.78, a PEG ratio of 1.86 and a beta of 0.54.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share 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 analyst estimates of $3.98 billion. On average, analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AZO shares. JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Roth Capital set a $3,763.00 price objective on AutoZone in a research note on Wednesday, March 5th. Bank of America upped their price objective on AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Roth Mkm upped their price objective on AutoZone from $3,634.00 to $3,763.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Truist Financial increased their price target on AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,724.00.

Insider Activity

In other AutoZone news, VP Dennis W. Leriche sold 1,575 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the completion of the transaction, the vice president now owns 417 shares of the company’s stock, valued at approximately $1,501,200. The trade was a 79.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the sale, the senior vice president now owns 50 shares in the company, valued at $177,500. The trade was a 76.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,721 shares of company stock valued at $24,609,331. 2.10% of the stock is currently owned by insiders.

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.