The Manufacturers Life Insurance Company increased its stake in AutoZone, Inc. (NYSE:AZO) by 17.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,353 shares of the company’s stock after purchasing an additional 3,950 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of AutoZone worth $22,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in AutoZone during the fourth quarter worth about $300,000. Lloyd Advisory Services LLC. acquired a new stake in shares of AutoZone in the 4th quarter worth approximately $36,000. Dumont & Blake Investment Advisors LLC acquired a new stake in shares of AutoZone in the 1st quarter worth approximately $563,000. Manning & Napier Group LLC increased its stake in AutoZone by 1.7% in the 1st quarter. Manning & Napier Group LLC now owns 23,716 shares of the company’s stock valued at $20,062,000 after purchasing an additional 391 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in AutoZone by 63.6% during the fourth quarter. Franklin Resources Inc. now owns 16,231 shares of the company’s stock worth $19,336,000 after purchasing an additional 6,311 shares during the last quarter. Hedge funds and other institutional investors own 91.75% of the company’s stock.

Shares of NYSE:AZO opened at $1,104.93 on Monday. The company has a market cap of $25.80 billion, a P/E ratio of 17.35, a P/E/G ratio of 1.88 and a beta of 0.91. The business has a fifty day simple moving average of $1,110.72 and a 200-day simple moving average of $1,067.49. AutoZone, Inc. has a 52 week low of $684.91 and a 52 week high of $1,274.41.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $14.39 EPS for the quarter, beating the Zacks’ consensus estimate of $13.80 by $0.59. AutoZone had a net margin of 12.90% and a negative return on equity of 91.18%. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the company posted $15.99 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts forecast that AutoZone, Inc. will post 62.52 earnings per share for the current year.

In other AutoZone news, VP Philip B. Daniele sold 176 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $1,100.21, for a total transaction of $193,636.96. Following the completion of the sale, the vice president now owns 247 shares of the company’s stock, valued at $271,751.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kristen C. Wright sold 1,890 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $1,140.00, for a total value of $2,154,600.00. Following the sale, the vice president now owns 2,137 shares of the company’s stock, valued at $2,436,180. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

AZO has been the subject of a number of research analyst reports. Raymond James dropped their price target on AutoZone from $1,350.00 to $1,300.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Wells Fargo & Co raised their target price on shares of AutoZone from $1,050.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Nomura Instinet reaffirmed a “buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Goldman Sachs Group increased their price target on shares of AutoZone from $967.00 to $1,105.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Nomura lifted their price objective on AutoZone from $1,210.00 to $1,290.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,215.88.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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