Vestcor Inc Sells 23 Shares of AutoZone, Inc. (NYSE:AZO)

Vestcor Inc cut its stake in AutoZone, Inc. (NYSE:AZO) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,442 shares of the company’s stock after selling 23 shares during the quarter. Vestcor Inc’s holdings in AutoZone were worth $7,819,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after purchasing an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in AutoZone by 29.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock worth $111,455,000 after purchasing an additional 7,922 shares in the last quarter. Silverleafe Capital Partners LLC raised its holdings in AutoZone by 1.0% in the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after purchasing an additional 26 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in AutoZone by 592.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after purchasing an additional 7,879 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Bailey L. Childress sold 160 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total value of $568,000.00. Following the transaction, the senior vice president now owns 50 shares of the company’s stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Dennis W. Leriche sold 1,575 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the sale, the vice president now owns 417 shares in the company, valued at approximately $1,501,200. The trade was a 79.07 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Raymond James reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, March 5th. Truist Financial increased their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Guggenheim increased their price target on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley increased their price target on shares of AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,651.91.

AutoZone Stock Down 0.5 %

Shares of NYSE AZO opened at $3,545.76 on Thursday. The firm’s 50-day moving average price is $3,390.02 and its 200-day moving average price is $3,238.89. The company has a market cap of $59.50 billion, a PE ratio of 23.69, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.