Massachusetts Financial Services Co. MA Has $23.11 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Massachusetts Financial Services Co. MA lowered its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,062 shares of the company's stock after selling 197 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in AutoZone were worth $23,113,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Harbour Investments Inc. boosted its position in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after purchasing an additional 3 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of AutoZone by 0.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock worth $1,188,000 after buying an additional 3 shares during the last quarter. Tandem Wealth Advisors LLC lifted its holdings in shares of AutoZone by 3.6% during the fourth quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock worth $279,000 after buying an additional 3 shares during the last quarter. United Capital Financial Advisors LLC lifted its holdings in shares of AutoZone by 0.3% during the fourth quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company's stock worth $3,585,000 after buying an additional 3 shares during the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of AutoZone by 2.2% during the fourth quarter. Forum Financial Management LP now owns 138 shares of the company's stock worth $443,000 after buying an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Insider Buying and Selling

In other news, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president owned 406 shares of the company's stock, valued at $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 27,500 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the sale, the chairman directly owned 8,546 shares in the company, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,662 shares of company stock worth $131,999,089. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AZO. Raymond James Financial reiterated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. The Goldman Sachs Group set a $3,811.00 price target on AutoZone in a report on Friday, May 23rd. Wall Street Zen upgraded AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Evercore ISI set a $3,950.00 target price on AutoZone in a research note on Monday, May 19th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $4,087.00.

AutoZone Stock Performance

NYSE:AZO traded up $63.75 during mid-day trading on Friday, hitting $3,713.17. The company had a trading volume of 100,741 shares, compared to its average volume of 130,743. AutoZone, Inc. has a fifty-two week low of $2,894.02 and a fifty-two week high of $3,916.81. The business's fifty day moving average is $3,702.15 and its two-hundred day moving average is $3,579.83. The firm has a market cap of $62.31 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.22 and a beta of 0.39.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same period in the previous year, the company posted $36.69 EPS. The company's quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

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.