MetLife Investment Management LLC Sells 196 Shares of AutoZone, Inc. (NYSE:AZO)

MetLife Investment Management LLC reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,153 shares of the company’s stock after selling 196 shares during the period. MetLife Investment Management LLC’s holdings in AutoZone were worth $16,232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AZO. Mather Group LLC. increased its stake in shares of AutoZone by 1.8% in the 2nd quarter. Mather Group LLC. now owns 224 shares of the company’s stock worth $706,000 after purchasing an additional 4 shares in the last quarter. Conning Inc. raised its stake in shares of AutoZone by 4.3% in the second quarter. Conning Inc. now owns 98 shares of the company’s stock worth $290,000 after buying an additional 4 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of AutoZone by 14.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company’s stock worth $95,000 after buying an additional 4 shares during the period. Brighton Jones LLC lifted its position in shares of AutoZone by 4.1% during the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company’s stock valued at $299,000 after buying an additional 4 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its stake in shares of AutoZone by 2.6% during the 2nd quarter. Fidelis Capital Partners LLC now owns 159 shares of the company’s stock valued at $490,000 after acquiring an additional 4 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Up 1.4 %

Shares of NYSE:AZO opened at $3,188.94 on Thursday. The company has a market cap of $53.91 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 1.57 and a beta of 0.71. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,256.37. The company has a 50-day moving average price of $3,115.05 and a 200 day moving average price of $3,032.95.

AutoZone (NYSE:AZO) last posted 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). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the business earned $46.46 earnings per share. AutoZone’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities analysts forecast that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Buying and Selling at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the firm’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 value of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This represents a 56.47 % 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 worth $46,225,660 over the last quarter. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AZO. Morgan Stanley lifted their price target on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Evercore ISI lifted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. The Goldman Sachs Group downgraded AutoZone from a “buy” rating to a “sell” rating and lowered their price objective for the company from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Finally, Citigroup dropped their price objective on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,202.71.

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.