AutoZone, Inc. (NYSE:AZO) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 4.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,532 shares of the company’s stock after selling 193 shares during the period. Corebridge Financial Inc.’s holdings in AutoZone were worth $14,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Proficio Capital Partners LLC lifted its position in AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after purchasing an additional 419,375 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of AutoZone during the 4th quarter valued at about $471,629,000. Wealthfront Advisers LLC lifted its holdings in shares of AutoZone by 6,083.9% in the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock valued at $290,281,000 after buying an additional 89,190 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after buying an additional 60,483 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of AutoZone in the fourth quarter worth about $189,483,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Up 0.5 %

Shares of NYSE AZO opened at $3,675.49 on Wednesday. The company has a 50-day moving average of $3,450.75 and a 200 day moving average of $3,267.24. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,704.43. The stock has a market cap of $61.68 billion, a PE ratio of 24.56, a P/E/G ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted 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 during 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%. On average, sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AZO. Morgan Stanley boosted their price target on AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Roth Capital set a $3,763.00 price target on shares of AutoZone in a report on Wednesday, March 5th. Roth Mkm lifted their price objective on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Evercore ISI increased their target price on shares of AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their price target on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,683.36.

Insiders Place Their Bets

In other 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 transaction of $568,000.00. Following the completion of the sale, the senior vice president now owns 50 shares in the company, valued at $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Craig Smith sold 2,850 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the transaction, the vice president now owns 2,924 shares in the company, valued at $10,555,640. This represents a 49.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,721 shares of company stock valued at $17,009,311 in the last three months. 2.10% of the stock is currently owned by insiders.

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.