Franklin Resources Inc. Raises Holdings in AutoZone, Inc. (NYSE:AZO)

Franklin Resources Inc. grew its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 18.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 44,946 shares of the company's stock after acquiring an additional 6,898 shares during the period. Franklin Resources Inc. owned about 0.27% of AutoZone worth $141,717,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in shares of AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company's stock worth $31,293,100,000 after acquiring an additional 993,139 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in AutoZone in the 2nd quarter worth approximately $424,000. Baillie Gifford & Co. lifted its position in AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company's stock valued at $356,267,000 after acquiring an additional 115,924 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock valued at $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of AutoZone by 319.0% in the 2nd quarter. Squarepoint Ops LLC now owns 36,225 shares of the company's stock worth $107,375,000 after purchasing an additional 27,580 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AZO shares. BNP Paribas raised AutoZone to a "strong-buy" rating in a research report on Wednesday, September 25th. Citigroup raised their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Roth Mkm reissued a "buy" rating and set a $3,634.00 price objective on shares of AutoZone in a report on Wednesday, October 16th. Wedbush restated an "outperform" rating and issued a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Finally, Evercore ISI boosted their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $3,384.89.

Insider Buying and Selling at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company's stock, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Down 0.5 %

AZO stock traded down $16.60 during mid-day trading on Monday, hitting $3,353.67. The company had a trading volume of 136,064 shares, compared to its average volume of 139,484. The company has a 50-day moving average price of $3,155.07 and a 200 day moving average price of $3,069.24. AutoZone, Inc. has a 12-month low of $2,510.00 and a 12-month high of $3,416.71. The company has a market capitalization of $56.69 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the business earned $32.55 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts expect that AutoZone, Inc. will post 154.29 EPS for the current 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.