Massachusetts Financial Services Co. MA Reduces Holdings in AutoZone, Inc. (NYSE:AZO)

Massachusetts Financial Services Co. MA decreased its position in shares of AutoZone, Inc. (NYSE:AZO) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,864 shares of the company’s stock after selling 89 shares during the period. Massachusetts Financial Services Co. MA’s holdings in AutoZone were worth $21,622,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. Capital Performance Advisors LLP acquired a new position in AutoZone during the 3rd quarter worth $36,000. Meeder Asset Management Inc. grew its holdings 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 acquiring an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new position in AutoZone during the 3rd quarter worth $47,000. Darwin Wealth Management LLC acquired a new position in AutoZone during the 3rd quarter worth $47,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in AutoZone during the 2nd quarter worth $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In other news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now owns 13,857 shares in the company, valued at $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the sale, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock worth $46,225,660 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Trading Up 0.6 %

AZO stock opened at $3,116.96 on Tuesday. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,256.37. The company has a market capitalization of $52.68 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. The firm’s 50-day moving average is $3,111.37 and its two-hundred day moving average is $3,030.66.

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

Wall Street Analysts Forecast Growth

AZO has been the subject of several recent analyst reports. The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Mizuho lifted their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. UBS Group lifted their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Guggenheim lifted their price target on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Truist Financial lifted their price target on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have given 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone 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.