Corebridge Financial Inc. Sells 193 Shares of AutoZone, Inc. (NYSE:AZO)

Corebridge Financial Inc. reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,532 shares of the company’s stock after selling 193 shares during the quarter. Corebridge Financial Inc.’s holdings in AutoZone were worth $14,511,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Franklin Resources Inc. grew its position in AutoZone by 18.1% during the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after buying an additional 6,898 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after acquiring an additional 60,483 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AutoZone by 29.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock worth $111,455,000 after acquiring an additional 7,922 shares during 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 during the period. Finally, Pensionfund Sabic lifted its position in AutoZone by 51.3% during the fourth quarter. Pensionfund Sabic now owns 590 shares of the company’s stock valued at $1,889,000 after purchasing an additional 200 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AZO has been the subject of several recent analyst reports. DA Davidson raised shares of AutoZone from a “neutral” rating to a “buy” rating and upped their target price for the stock from $3,500.00 to $4,192.00 in a report on Friday, March 21st. Evercore ISI upped their price target on AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. BMO Capital Markets increased their price objective on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Barclays upped their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Finally, Roth Mkm increased their price objective on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $3,683.36.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,675.49 on Wednesday. The company has a market capitalization of $61.68 billion, a PE ratio of 24.56, a P/E/G ratio of 1.86 and a beta of 0.71. The company has a 50-day simple moving average of $3,450.75 and a two-hundred day simple moving average of $3,267.24. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,704.43.

AutoZone (NYSE:AZO) last posted its 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 analysts’ expectations of $3.98 billion. On average, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, VP Richard Craig Smith sold 2,850 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dennis W. Leriche sold 1,575 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the transaction, the vice president now owns 417 shares in the company, valued at approximately $1,501,200. This trade represents a 79.07 % decrease in their position. 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 quarter. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Company 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.