MetLife Investment Management LLC Boosts Stock Holdings in AutoZone, Inc. (NYSE:AZO)

MetLife Investment Management LLC increased its position in AutoZone, Inc. (NYSE:AZO) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,156 shares of the company’s stock after acquiring an additional 3 shares during the period. MetLife Investment Management LLC’s holdings in AutoZone were worth $16,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its stake in shares of AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after purchasing an additional 419,375 shares during the last quarter. Norges Bank bought a new position in AutoZone during the 4th quarter valued at about $834,556,000. Strategic Financial Concepts LLC purchased a new stake in shares of AutoZone during the 4th quarter valued at about $471,629,000. Wealthfront Advisers LLC grew its stake in shares of AutoZone by 6,083.9% in the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock worth $290,281,000 after acquiring an additional 89,190 shares during the period. Finally, Barclays PLC raised its holdings in shares of AutoZone by 82.6% during the fourth quarter. Barclays PLC now owns 170,216 shares of the company’s stock valued at $545,033,000 after purchasing an additional 77,015 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AZO has been the subject of a number of research analyst reports. Argus downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. UBS Group increased their target price on AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company boosted their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Morgan Stanley increased their price objective 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. Finally, Roth Capital set a $3,763.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3,724.00.

AutoZone Stock Up 1.0 %

Shares of AZO stock opened at $3,601.29 on Monday. The stock has a market cap of $60.44 billion, a P/E ratio of 24.06, a PEG ratio of 1.86 and a beta of 0.54. The company’s fifty day simple moving average is $3,573.52 and its two-hundred day simple moving average is $3,343.71. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,916.81.

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

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 2,850 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $10,555,640. This trade represents a 49.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the sale, the chief executive officer now directly owns 163 shares in the company, valued at $619,401.63. The trade was a 92.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,721 shares of company stock valued at $24,609,331. 2.10% of the stock is owned by corporate 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.