Tompkins Financial Corp Lowers Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Tompkins Financial Corp cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 169 shares of the company’s stock after selling 10 shares during the quarter. Tompkins Financial Corp’s holdings in AutoZone were worth $421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in AutoZone by 5,037.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,392,892 shares of the company’s stock worth $58,264,000 after purchasing an additional 1,365,781 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of AutoZone by 4.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,204,151 shares of the company’s stock valued at $2,969,654,000 after acquiring an additional 48,141 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock worth $1,724,500,000 after acquiring an additional 698,613 shares during the period. Gateway Advisory LLC grew its holdings in AutoZone by 250,309.8% during the 1st quarter. Gateway Advisory LLC now owns 535,877 shares of the company’s stock worth $536,000 after acquiring an additional 535,663 shares in the last quarter. Finally, Royal Bank of Canada increased its position in AutoZone by 368.0% during the 1st quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock valued at $841,242,000 after purchasing an additional 323,536 shares during the period. Institutional investors own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AZO. Citigroup lowered their price target on shares of AutoZone from $3,125.00 to $3,020.00 in a research report on Tuesday, May 30th. Truist Financial increased their target price on AutoZone from $2,878.00 to $2,886.00 in a research report on Wednesday, May 24th. Bank of America raised AutoZone from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $2,120.00 to $2,465.00 in a research report on Thursday, June 1st. Wedbush lifted their target price on AutoZone from $2,600.00 to $2,750.00 in a research note on Monday, May 22nd. Finally, Northcoast Research initiated coverage on shares of AutoZone in a report on Wednesday, June 28th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,714.42.

AutoZone Price Performance

AZO traded down $4.72 on Tuesday, reaching $2,517.38. 102,656 shares of the stock were exchanged, compared to its average volume of 159,626. The company’s 50-day moving average price is $2,505.11 and its 200 day moving average price is $2,510.10. The firm has a market capitalization of $45.72 billion, a PE ratio of 19.93, a PEG ratio of 1.41 and a beta of 0.66. AutoZone, Inc. has a fifty-two week low of $2,050.21 and a fifty-two week high of $2,750.00.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 19th. The company reported $46.46 EPS for the quarter, topping analysts’ consensus estimates of $44.69 by $1.77. AutoZone had a negative return on equity of 62.38% and a net margin of 14.45%. The firm had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter in the previous year, the company posted $40.51 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts forecast that AutoZone, Inc. will post 130.54 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Charles Pleas III sold 4,200 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $2,546.55, for a total transaction of $10,695,510.00. Following the completion of the transaction, the vice president now owns 3,425 shares of the company’s stock, valued at $8,721,933.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Charles Pleas III sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $2,546.55, for a total transaction of $10,695,510.00. Following the sale, the vice president now directly owns 3,425 shares of the company’s stock, valued at $8,721,933.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Albert Saltiel sold 2,245 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $2,500.00, for a total value of $5,612,500.00. Following the completion of the transaction, the vice president now directly owns 535 shares of the company’s stock, valued at $1,337,500. The disclosure for this sale can be found here. Insiders own 2.59% of the company’s stock.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.