Massachusetts Financial Services Co. MA Has $21.62 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Massachusetts Financial Services Co. MA lessened its stake in AutoZone, Inc. (NYSE:AZO) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,864 shares of the company’s stock after selling 89 shares during the quarter. 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 large investors have also recently added to or reduced their stakes in AZO. International Assets Investment Management LLC increased its stake in AutoZone by 354,692.5% in the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after buying an additional 993,139 shares during the period. PineStone Asset Management Inc. increased its stake in AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares during the period. Strategic Financial Concepts LLC acquired a new position in AutoZone in the 2nd quarter valued at approximately $424,000. Baillie Gifford & Co. increased its stake in AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after buying an additional 115,924 shares during the period. Finally, Squarepoint Ops LLC increased its stake in AutoZone by 319.0% in the 2nd quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock valued at $107,375,000 after buying an additional 27,580 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AZO shares. Truist Financial upped their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday, October 14th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research note 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 stock an “outperform” rating in a research note on Thursday, October 3rd. Roth Mkm restated a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a research note on Wednesday, October 16th. Finally, UBS Group increased their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,116.96 on Tuesday. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The firm has a fifty day moving average price of $3,111.37 and a two-hundred day moving average price of $3,030.66. The company has a market cap of $52.68 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share 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 company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the company earned $46.46 earnings per share. AutoZone’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts expect that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the firm’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 directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. The trade was a 48.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,880 shares of company stock valued at $46,225,660. Company 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.