Atlantic Union Bankshares Corp Buys 72 Shares of AutoZone, Inc. (NYSE:AZO)

Atlantic Union Bankshares Corp increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,239 shares of the company’s stock after buying an additional 72 shares during the period. Atlantic Union Bankshares Corp’s holdings in AutoZone were worth $3,903,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of AutoZone in the third quarter valued at approximately $36,000. Meeder Asset Management Inc. increased its position in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after buying an additional 5 shares during the period. Carolina Wealth Advisors LLC bought a new position in AutoZone during the 3rd quarter worth $47,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone during the third quarter worth $47,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone in the second quarter valued at about $50,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AZO. UBS Group lifted their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Morgan Stanley boosted their price target on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Truist Financial raised their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

Insider Buying and Selling

In other news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 in the last ninety days. Company insiders own 2.10% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,190.10 on Friday. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,256.37. The stock has a market capitalization of $53.91 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.61 and a beta of 0.71. The stock has a fifty day moving average of $3,118.05 and a 200-day moving average of $3,034.04.

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