MML Investors Services LLC Sells 7 Shares of AutoZone, Inc. (NYSE:AZO)

MML Investors Services LLC cut its holdings in AutoZone, Inc. (NYSE:AZO) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 622 shares of the company’s stock after selling 7 shares during the period. MML Investors Services LLC’s holdings in AutoZone were worth $1,993,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Natixis bought a new position in AutoZone during the fourth quarter valued at $285,000. Norinchukin Bank The grew its holdings in AutoZone by 8.5% during the fourth quarter. Norinchukin Bank The now owns 778 shares of the company’s stock valued at $2,491,000 after purchasing an additional 61 shares during the period. Ossiam grew its holdings in AutoZone by 536.8% during the fourth quarter. Ossiam now owns 2,719 shares of the company’s stock valued at $8,706,000 after purchasing an additional 2,292 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in AutoZone during the fourth quarter valued at $4,438,000. Finally, Dimensional Fund Advisors LP grew its holdings in AutoZone by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 50,974 shares of the company’s stock valued at $163,214,000 after purchasing an additional 3,009 shares during the period. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

Shares of AZO opened at $3,619.52 on Tuesday. The firm has a market cap of $60.74 billion, a P/E ratio of 24.18, a P/E/G ratio of 1.86 and a beta of 0.54. The stock has a 50 day simple moving average of $3,595.74 and a two-hundred day simple moving average of $3,365.80. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,916.81.

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

Analysts Set New Price Targets

AZO has been the subject of a number of analyst reports. Roth Capital set a $3,763.00 price target on AutoZone in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Guggenheim lifted their target price on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Truist Financial lifted their target price on AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group raised AutoZone from a “sell” rating to a “neutral” rating and lifted their target price for the company from $3,044.00 to $3,811.00 in a report on Tuesday, April 1st. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $3,724.00.

Insider Buying and Selling at AutoZone

In related news, CEO Philip B. Daniele sold 2,000 shares of the company’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 transaction of $7,600,020.00. Following the completion of the transaction, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. This represents a 92.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP K. Michelle Borninkhof sold 136 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total value of $482,810.88. Following the transaction, the senior vice president now owns 403 shares of the company’s stock, valued at approximately $1,430,682.24. This represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,521 shares of company stock worth $42,177,331. 2.10% of the stock is currently owned by insiders.

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.