Central Pacific Bank Trust Division Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Central Pacific Bank Trust Division purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 319 shares of the company's stock, valued at approximately $1,011,000.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in AutoZone during the first quarter valued at $32,000. Riverview Trust Co purchased a new stake in AutoZone in the 1st quarter worth approximately $41,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AutoZone during the 4th quarter valued at $54,000. Private Wealth Management Group LLC purchased a new position in AutoZone in the 4th quarter worth $54,000. Finally, Quarry LP purchased a new position in AutoZone in the 4th quarter worth $70,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Down 0.5 %

AZO traded down $12.95 on Tuesday, reaching $2,823.45. 85,531 shares of the company traded hands, compared to its average volume of 152,114. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The firm has a fifty day simple moving average of $2,878.94 and a two-hundred day simple moving average of $2,874.49. The company has a market cap of $48.22 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last posted its earnings results on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, beating analysts' consensus estimates of $35.67 by $1.02. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.29 billion. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $34.12 EPS. On average, equities analysts forecast that AutoZone, Inc. will post 151.57 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other AutoZone news, VP Jenna M. Bedsole bought 36 shares of the business's stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $2,757.10 per share, with a total value of $99,255.60. Following the transaction, the vice president now owns 36 shares of the company's stock, valued at approximately $99,255.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

AZO has been the topic of a number of research reports. Wedbush cut their target price on shares of AutoZone from $3,400.00 to $3,200.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 22nd. Morgan Stanley decreased their price objective on shares of AutoZone from $3,100.00 to $3,038.00 and set an "overweight" rating for the company in a report on Wednesday, May 22nd. Truist Financial cut their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a "buy" rating for the company in a research note on Wednesday, May 22nd. Citigroup cut their target price on shares of AutoZone from $3,420.00 to $3,250.00 and set a "buy" rating for the company in a research note on Wednesday, May 22nd. Finally, StockNews.com cut shares of AutoZone from a "buy" rating to a "hold" rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $3,112.71.

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.

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