CANADA LIFE ASSURANCE Co Lowers Position in AutoZone, Inc. (NYSE:AZO)

CANADA LIFE ASSURANCE Co decreased its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,615 shares of the company's stock after selling 2,930 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.11% of AutoZone worth $59,595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in shares of AutoZone during the 4th quarter worth $29,000. Flagship Wealth Advisors LLC acquired a new position in AutoZone in the 4th quarter valued at about $32,000. Harbour Investments Inc. grew its stake in shares of AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after buying an additional 3 shares during the period. Crews Bank & Trust acquired a new stake in shares of AutoZone during the 4th quarter worth approximately $61,000. Finally, McIlrath & Eck LLC increased its holdings in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock worth $63,000 after buying an additional 4 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

AutoZone Stock Performance

Shares of NYSE:AZO traded down $31.49 on Wednesday, hitting $3,647.17. 43,822 shares of the company's stock were exchanged, compared to its average volume of 132,111. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,916.81. The company has a market capitalization of $61.21 billion, a PE ratio of 24.37, a P/E/G ratio of 1.86 and a beta of 0.54. The firm's 50-day moving average is $3,580.35 and its 200 day moving average is $3,349.79.

AutoZone (NYSE:AZO - Get Free Report) last announced 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 business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 50 shares of the company's stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 completion of the sale, the vice president now directly owns 417 shares of the company's stock, valued at $1,501,200. The trade was a 79.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,721 shares of company stock valued at $24,609,331 over the last ninety days. Insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

AZO has been the subject of several analyst reports. Truist Financial increased their price objective on AutoZone from $3,753.00 to $3,841.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. BMO Capital Markets raised their price objective on AutoZone from $3,700.00 to $3,850.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Argus cut shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. UBS Group lifted their price target on shares of AutoZone from $3,875.00 to $4,025.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, Bank of America upped their price objective on shares of AutoZone from $3,600.00 to $3,700.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, AutoZone has an average rating of "Moderate Buy" and a consensus price target of $3,724.00.

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.