Franklin Resources Inc. Has $163.57 Million Position in AutoZone, Inc. (NYSE:AZO)

Franklin Resources Inc. boosted its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 13.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,084 shares of the company's stock after purchasing an additional 6,138 shares during the period. Franklin Resources Inc. owned approximately 0.30% of AutoZone worth $163,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in AutoZone in the 4th quarter valued at about $32,000. Harbour Investments Inc. boosted its position 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 purchasing an additional 3 shares during the period. Crews Bank & Trust purchased a new position in shares of AutoZone during the fourth quarter valued at $61,000. McIlrath & Eck LLC raised its position in AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock valued at $63,000 after buying an additional 4 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in AutoZone in the 4th quarter worth about $67,000. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AZO shares. Wedbush reiterated an "outperform" rating and issued a $3,700.00 target price on shares of AutoZone in a report on Wednesday, March 5th. UBS Group increased their target price on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Morgan Stanley boosted their price target on shares of AutoZone from $3,490.00 to $3,750.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Guggenheim lifted their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, Roth Mkm boosted their target price on AutoZone from $3,634.00 to $3,763.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Five 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $3,724.00.

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Insider Transactions at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares in the company, valued at approximately $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the sale, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. This trade represents a 92.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,721 shares of company stock worth $24,609,331 in the last three months. Insiders own 2.10% of the company's stock.

AutoZone Stock Performance

Shares of AZO stock traded down $174.93 during trading hours on Monday, hitting $3,478.32. The company had a trading volume of 162,157 shares, compared to its average volume of 132,064. The firm's fifty day moving average is $3,531.36 and its 200 day moving average is $3,304.99. The firm has a market capitalization of $58.37 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.86 and a beta of 0.54. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,916.81.

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 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 firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. On average, sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal 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.