AutoZone, Inc. (NYSE:AZO) Holdings Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 186.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,870 shares of the company’s stock after purchasing an additional 60,483 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.55% of AutoZone worth $292,544,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on AZO. Wedbush restated an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. Morgan Stanley lifted their target price 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. The Goldman Sachs Group cut AutoZone from a “buy” rating to a “sell” rating and decreased their price target for the stock from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, UBS Group increased their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Stock Up 0.6 %

AZO opened at $3,116.96 on Tuesday. The firm has a market capitalization of $52.68 billion, a P/E ratio of 20.82, a PEG ratio of 1.57 and a beta of 0.71. The stock has a fifty day moving average of $3,111.37 and a 200-day moving average of $3,030.66. AutoZone, Inc. has a 12-month low of $2,510.00 and a 12-month high of $3,256.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $46.46 earnings per share. On average, analysts expect that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman William C. Rhodes III sold 300 shares of AutoZone stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock valued at $46,225,660. Corporate insiders own 2.10% of the company’s stock.

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.