Empire Life Investments Inc. Buys 1,223 Shares of AutoZone, Inc. (NYSE:AZO)

Empire Life Investments Inc. lifted its stake in AutoZone, Inc. (NYSE:AZO) by 36.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,608 shares of the company’s stock after purchasing an additional 1,223 shares during the period. Empire Life Investments Inc.’s holdings in AutoZone were worth $14,515,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AZO. SG Americas Securities LLC raised its position in shares of AutoZone by 35.3% during the first quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock worth $11,138,000 after acquiring an additional 922 shares during the last quarter. Sei Investments Co. raised its holdings in AutoZone by 60.7% during the 1st quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock worth $70,326,000 after purchasing an additional 8,427 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in AutoZone by 12.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock valued at $11,059,000 after purchasing an additional 401 shares during the period. Peak Financial Advisors LLC bought a new position in shares of AutoZone in the 2nd quarter valued at about $2,816,000. Finally, Verde Capital Management bought a new position in shares of AutoZone in the 3rd quarter valued at about $1,137,000. Institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the business’s 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 transaction of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Scott Murphy sold 1,580 shares of the firm’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 value of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore ISI increased their price objective 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. Guggenheim increased their price target on AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and reduced their price target for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Mizuho upped their price objective on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, BNP Paribas upgraded 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 assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Price Performance

AZO stock opened at $2,981.19 on Friday. The stock has a market capitalization of $50.39 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.53 and a beta of 0.71. The business has a 50-day moving average of $3,119.23 and a 200-day moving average of $3,012.92. AutoZone, Inc. has a fifty-two week low of $2,491.50 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter last year, the business earned $46.46 earnings per share. AutoZone’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 158.09 EPS for the current year.

About AutoZone

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.