The Manufacturers Life Insurance Company Buys 60,483 Shares of AutoZone, Inc. (NYSE:AZO)

The Manufacturers Life Insurance Company lifted its stake in AutoZone, Inc. (NYSE:AZO) by 186.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,870 shares of the company’s stock after acquiring an additional 60,483 shares during the period. The Manufacturers Life Insurance Company’s holdings in AutoZone were worth $292,544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. raised its position in shares of AutoZone by 1.8% in the second quarter. Mather Group LLC. now owns 224 shares of the company’s stock valued at $706,000 after purchasing an additional 4 shares during the period. Conning Inc. lifted its position in AutoZone by 4.3% during the 2nd quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after acquiring an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in AutoZone by 14.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock valued at $95,000 after acquiring an additional 4 shares during the period. Brighton Jones LLC grew its position in shares of AutoZone by 4.1% in the second quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after purchasing an additional 4 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its position in shares of AutoZone by 2.6% in the second quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock valued at $490,000 after purchasing an additional 4 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

AutoZone 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 stock has a fifty day moving average price of $3,111.37 and a two-hundred day moving average price of $3,030.66. The firm has a market capitalization of $52.68 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The firm 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 for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $46.46 EPS. On average, equities research analysts predict that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AZO. Mizuho increased their target price on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Citigroup dropped their target price on shares of AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Evercore ISI increased their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

Insider Activity

In other news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the transaction, the chairman now owns 13,857 shares in the company, valued at approximately $43,055,777.55. This trade represents a 48.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,880 shares of company stock worth $46,225,660. Insiders own 2.10% of the company’s stock.

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.