Empire Life Investments Inc. Raises Holdings in AutoZone, Inc. (NYSE:AZO)

Empire Life Investments Inc. raised its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 36.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,608 shares of the company's stock after buying an additional 1,223 shares during the quarter. Empire Life Investments Inc.'s holdings in AutoZone were worth $14,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AZO. SG Americas Securities LLC increased its position in AutoZone by 35.3% in the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company's stock valued at $11,138,000 after acquiring an additional 922 shares during the period. Sei Investments Co. increased its holdings in shares of AutoZone by 60.7% in the first quarter. Sei Investments Co. now owns 22,315 shares of the company's stock valued at $70,326,000 after purchasing an additional 8,427 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of AutoZone by 12.9% during the first quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company's stock worth $11,059,000 after purchasing an additional 401 shares during the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of AutoZone during the second quarter worth $2,816,000. Finally, Verde Capital Management purchased a new position in AutoZone in the 3rd quarter valued at $1,137,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman William C. Rhodes III sold 300 shares of the company's 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 transaction of $922,560.00. Following the transaction, the chairman now owns 13,857 shares of the company's stock, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman William C. Rhodes III sold 300 shares of the company's stock in a transaction on Thursday, October 3rd. The stock was 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 in the company, valued at approximately $42,613,046.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 in the last ninety days. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BNP Paribas upgraded shares of AutoZone to a "strong-buy" rating in a research report on Wednesday, September 25th. Roth Mkm reissued a "buy" rating and set a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. Redburn Atlantic raised AutoZone to a "strong-buy" rating in a report on Tuesday, October 1st. DA Davidson reissued a "neutral" rating and set a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. Finally, Citigroup decreased their price target on AutoZone from $3,787.00 to $3,500.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and a consensus price target of $3,202.71.

AutoZone Stock Down 0.9 %

Shares of AutoZone stock traded down $27.81 during trading on Friday, hitting $2,981.19. 127,168 shares of the company were exchanged, compared to its average volume of 107,908. The firm has a 50 day moving average price of $3,119.23 and a 200 day moving average price of $3,013.44. The stock has a market capitalization of $50.38 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 1.52 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,491.50 and a fifty-two week high of $3,256.37.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to analysts' expectations of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The firm's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $46.46 earnings per share. Analysts predict that AutoZone, Inc. will post 158.09 earnings per share for the current year.

About AutoZone

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.