AutoZone, Inc. (NYSE:AZO) Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 83.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,174 shares of the company's stock after buying an additional 1,443 shares during the quarter. M&T Bank Corp's holdings in AutoZone were worth $9,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after buying an additional 60,483 shares in the last quarter. Verde Capital Management acquired a new position in AutoZone during the 3rd quarter worth approximately $1,137,000. Mizuho Securities USA LLC increased its position in shares of AutoZone by 592.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company's stock valued at $29,012,000 after purchasing an additional 7,879 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of AutoZone by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 104,665 shares of the company's stock valued at $329,699,000 after purchasing an additional 466 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of AutoZone by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 21,907 shares of the company's stock valued at $69,008,000 after purchasing an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Activity

In other news, Chairman William C. Rhodes III sold 300 shares of the company's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the transaction, the chairman now directly owns 13,857 shares of the company's stock, valued at $42,613,046.40. This represents a 2.12 % decrease in their position. The transaction 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 firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares of the company's stock, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock valued at $46,225,660 over the last quarter. Corporate insiders own 2.10% of the company's stock.

AutoZone Price Performance

Shares of AZO stock traded down $11.24 during midday trading on Monday, hitting $3,242.23. The company had a trading volume of 175,042 shares, compared to its average volume of 140,089. The stock has a market cap of $54.81 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.73 and a beta of 0.71. The company's 50 day simple moving average is $3,171.99 and its 200 day simple moving average is $3,086.84. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,416.71.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AZO shares. Morgan Stanley boosted their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Truist Financial boosted their target price on AutoZone from $3,501.00 to $3,753.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. BNP Paribas upgraded shares of AutoZone to a "strong-buy" rating in a research note on Wednesday, September 25th. Finally, Roth Capital raised shares of AutoZone to a "strong-buy" rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $3,384.89.

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.