Sandy Spring Bank Purchases 457 Shares of AutoZone, Inc. (NYSE:AZO)

Sandy Spring Bank raised its position in AutoZone, Inc. (NYSE:AZO) by 6,528.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 464 shares of the company’s stock after acquiring an additional 457 shares during the period. Sandy Spring Bank’s holdings in AutoZone were worth $1,486,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AZO. Flagship Wealth Advisors LLC bought a new stake in AutoZone in the 4th quarter valued at approximately $32,000. Harbour Investments Inc. increased its position in shares of AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of AutoZone during the 3rd quarter worth approximately $47,000. Crews Bank & Trust acquired a new position in shares of AutoZone during the 4th quarter worth approximately $61,000. Finally, McIlrath & Eck LLC increased its position in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,569.96 on Friday. The stock’s fifty day moving average price is $3,426.29 and its two-hundred day moving average price is $3,254.98. The firm has a market cap of $59.91 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,704.43.

AutoZone (NYSE:AZO) last released its earnings results 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). The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Dennis W. Leriche sold 1,575 shares of the company’s stock in a transaction on 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 sale, the vice president now directly owns 417 shares in the company, valued at $1,501,200. This represents a 79.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP K. Michelle Borninkhof sold 136 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total value of $482,810.88. Following the sale, the senior vice president now owns 403 shares of the company’s stock, valued at approximately $1,430,682.24. This represents a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,871 shares of company stock worth $6,720,811. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AZO. JPMorgan Chase & Co. boosted their price target on AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Roth Mkm boosted their price target 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. Guggenheim boosted their price target on AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. BMO Capital Markets boosted their price target on AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their target price on AutoZone from $3,750.00 to $3,850.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,651.91.

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.